Elevance Health, Inc. $ELV Position Reduced by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Elevance Health by 1.7% in the first quarter, selling 5,074 shares and ending with 301,106 shares worth about $88.1 million.
• Elevance Health posted stronger-than-expected quarterly results, with EPS of $12.58 versus the $10.74 estimate and revenue of $49.49 billion, up 1.5% year over year.
• The company also paid a quarterly dividend of $1.72 per share, equal to an annualized yield of about 1.6%, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $422.10.

Swedbank AB trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,106 shares of the company's stock after selling 5,074 shares during the quarter. Swedbank AB owned approximately 0.14% of Elevance Health worth $88,149,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health during the 4th quarter valued at $32,000. ORG Partners LLC lifted its holdings in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after purchasing an additional 59 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Elevance Health in the fourth quarter worth $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Elevance Health in the fourth quarter worth $38,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Elevance Health Trading Up 2.6%

NYSE:ELV opened at $418.65 on Wednesday. The company has a market capitalization of $90.91 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.32 and a beta of 0.67. The stock's 50 day moving average price is $394.02 and its 200 day moving average price is $351.98. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $427.19.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same period in the previous year, the firm posted $11.97 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, research analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 10th. Elevance Health's dividend payout ratio is presently 29.26%.

Analyst Ratings Changes

Several research firms recently weighed in on ELV. Morgan Stanley upped their price target on Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. UBS Group lifted their target price on Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Leerink Partners set a $364.00 target price on Elevance Health in a report on Thursday, April 23rd. Jefferies Financial Group reduced their price target on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $422.10.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.