Elevance Health, Inc. $ELV Shares Purchased by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its stake in Elevance Health by 8.6% in the fourth quarter, buying an additional 7,520 shares and bringing its total to 95,220 shares worth about $33.4 million.
• Elevance Health reported better-than-expected quarterly results, with EPS of $12.58 versus the $10.74 consensus estimate and revenue of $49.49 billion, topping analyst expectations.
• The company also declared a quarterly dividend of $1.72 per share, and Wall Street remains constructive overall with a Moderate Buy consensus rating and a target price of $403.11.

Forsta AP Fonden lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,220 shares of the company's stock after purchasing an additional 7,520 shares during the period. Forsta AP Fonden's holdings in Elevance Health were worth $33,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ELV. Sei Investments Co. increased its holdings in Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company's stock worth $63,666,000 after acquiring an additional 11,745 shares in the last quarter. Glenview Trust co increased its holdings in Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company's stock worth $630,000 after acquiring an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock worth $25,650,000 after acquiring an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock worth $16,478,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock worth $17,080,000 after acquiring an additional 23,180 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.4%

Shares of ELV opened at $394.40 on Friday. The stock has a market capitalization of $85.65 billion, a PE ratio of 16.78, a P/E/G ratio of 2.22 and a beta of 0.66. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $408.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The company's 50-day simple moving average is $343.75 and its 200-day simple moving average is $338.90.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion for the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts forecast that Elevance Health, Inc. will post 26.94 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health's dividend payout ratio is presently 29.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELV shares. Jefferies Financial Group cut their price target on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating for the company in a report on Monday, April 20th. Wells Fargo & Company cut their price target on shares of Elevance Health from $424.00 to $391.00 and set an "overweight" rating for the company in a report on Friday, January 30th. Bank of America raised shares of Elevance Health from a "neutral" rating to a "buy" rating and upped their target price for the stock from $405.00 to $435.00 in a report on Wednesday, April 29th. The Goldman Sachs Group upped their target price on shares of Elevance Health from $350.00 to $370.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $397.00 to $411.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $403.11.

About Elevance Health

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.

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