BI Asset Management Fondsmaeglerselskab A S Acquires 9,511 Shares of Elevance Health, Inc. $ELV

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,087 shares of the company's stock after purchasing an additional 9,511 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.06% of Elevance Health worth $54,408,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ELV. GeoWealth Management LLC boosted its stake in shares of Elevance Health by 20.3% in the 4th quarter. GeoWealth Management LLC now owns 1,469 shares of the company's stock valued at $542,000 after purchasing an additional 248 shares during the last quarter. MML Investors Services LLC boosted its stake in Elevance Health by 16.5% during the 4th quarter. MML Investors Services LLC now owns 74,356 shares of the company's stock worth $27,430,000 after acquiring an additional 10,527 shares during the last quarter. Mirabella Financial Services LLP bought a new position in Elevance Health during the 4th quarter worth approximately $1,365,000. Tower Research Capital LLC TRC boosted its stake in Elevance Health by 71.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,775 shares of the company's stock worth $4,713,000 after acquiring an additional 5,320 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in Elevance Health by 0.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 16,616 shares of the company's stock worth $6,128,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ELV. Guggenheim reduced their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Barclays reduced their price objective on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. UBS Group reissued a "buy" rating and set a $484.00 price objective (down previously from $555.00) on shares of Elevance Health in a research note on Monday, July 14th. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Truist Financial reduced their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $413.81.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux acquired 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Up 2.0%

Shares of NYSE ELV traded up $6.2370 during midday trading on Friday, reaching $315.8370. The company's stock had a trading volume of 2,961,044 shares, compared to its average volume of 2,567,187. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $567.26. The stock has a market capitalization of $71.12 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.13 and a beta of 0.58. The stock has a 50 day simple moving average of $324.18 and a 200-day simple moving average of $378.71.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. During the same quarter last year, the business earned $10.12 earnings per share. Elevance Health's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.