Elevance Health, Inc. (NYSE:ELV) is Maj Invest Holding A S's Largest Position

Maj Invest Holding A S lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 446,209 shares of the company's stock after selling 18,777 shares during the period. Elevance Health makes up approximately 7.0% of Maj Invest Holding A S's investment portfolio, making the stock its biggest holding. Maj Invest Holding A S owned approximately 0.20% of Elevance Health worth $194,083,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELV. Proficio Capital Partners LLC lifted its position in shares of Elevance Health by 33.5% during the fourth quarter. Proficio Capital Partners LLC now owns 626 shares of the company's stock worth $231,000 after purchasing an additional 157 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Elevance Health during the 4th quarter valued at about $88,882,000. E Fund Management Co. Ltd. lifted its holdings in Elevance Health by 114.3% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,425 shares of the company's stock valued at $526,000 after buying an additional 760 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $911,000. Finally, Mesirow Financial Investment Management Inc. raised its stake in shares of Elevance Health by 20.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 666 shares of the company's stock valued at $246,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Mizuho lifted their target price on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird restated a "neutral" rating and issued a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $1.08 during trading on Monday, reaching $346.76. 2,255,777 shares of the company traded hands, compared to its average volume of 1,612,991. The firm's fifty day simple moving average is $387.65 and its 200 day simple moving average is $398.64. The stock has a market cap of $78.34 billion, a P/E ratio of 13.53, a PEG ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $343.83 and a 12-month high of $567.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.97%. Elevance Health's payout ratio is 26.69%.

About Elevance Health

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.