Elevance Health, Inc. $ELV Shares Sold by Maj Invest Holding A S

Key Points

• Maj Invest reduced its stake in Elevance Health by 10% in Q3, selling 44,111 shares and retaining 396,776 shares worth about $128.2M, which is 4.4% of Maj Invest’s portfolio and roughly 0.18% of Elevance outstanding.
• Stock and analyst snapshot: Elevance trades near $377.52 (52‑week range $273.71–$458.75) with an $83.9B market cap and a P/E of 15.4; institutional investors own 89.24% and analysts rate the stock a "Moderate Buy" with an average target of $399.63.

Maj Invest Holding A S lowered its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,776 shares of the company's stock after selling 44,111 shares during the period. Elevance Health makes up 4.4% of Maj Invest Holding A S's portfolio, making the stock its 12th biggest position. Maj Invest Holding A S owned about 0.18% of Elevance Health worth $128,207,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Stonegate Investment Group LLC increased its holdings in Elevance Health by 42.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 748 shares of the company's stock valued at $242,000 after purchasing an additional 223 shares in the last quarter. Evergreen Wealth Management LLC boosted its position in shares of Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company's stock worth $5,584,000 after buying an additional 4,336 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Elevance Health in the third quarter valued at about $52,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of Elevance Health by 28.6% during the 3rd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 900 shares of the company's stock valued at $291,000 after buying an additional 200 shares during the period. Finally, National Wealth Management Group LLC acquired a new position in Elevance Health during the 3rd quarter worth approximately $459,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of ELV opened at $377.52 on Tuesday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $83.90 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.91 and a beta of 0.51. The stock has a 50 day moving average of $350.10 and a 200-day moving average of $328.90.

Analyst Ratings Changes

Several brokerages have issued reports on ELV. Mizuho set a $413.00 price objective on shares of Elevance Health in a research report on Friday, January 9th. TD Cowen reaffirmed a "buy" rating on shares of Elevance Health in a report on Wednesday, November 26th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $431.00 price objective on shares of Elevance Health in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $320.00 target price (down from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Finally, Bank of America boosted their price target on Elevance Health from $330.00 to $370.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Twelve 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, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $399.63.

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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