Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 37,090 Shares of Elevance Health, Inc. $ELV

Key Points

• Fjarde AP Fonden, Sweden’s Fourth National Pension Fund, increased its stake in Elevance Health by 53.8% in the first quarter, buying 37,090 additional shares to bring its total to 106,042 shares worth about $31.0 million.
• Several analysts turned more positive on the stock, with firms including Sanford C. Bernstein and Barclays raising price targets; the consensus rating is now Moderate Buy with an average target price of $419.16.
• Elevance Health reported strong quarterly results, beating EPS and revenue estimates, and it also paid a quarterly dividend of $1.72 per share, equal to a 1.6% yield.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,042 shares of the company's stock after buying an additional 37,090 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Elevance Health were worth $31,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC lifted its stake in shares of Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock valued at $354,000 after purchasing an additional 29 shares during the period. Fulton Breakefield Broenniman LLC boosted its position in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock valued at $289,000 after purchasing an additional 29 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Elevance Health by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock worth $481,000 after purchasing an additional 29 shares during the period. Savvy Advisors Inc. raised its holdings in Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after purchasing an additional 30 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in Elevance Health by 6.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company's stock worth $195,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Sanford C. Bernstein boosted their target price on shares of Elevance Health from $424.00 to $482.00 and gave the company an "outperform" rating in a report on Thursday. Barclays increased their price target on shares of Elevance Health from $408.00 to $480.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Guggenheim boosted their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Evercore restated a "hold" rating on shares of Elevance Health in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group raised their target price on shares of Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $419.16.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $416.97 on Friday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $427.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average price of $389.48 and a 200-day moving average price of $350.67. The company has a market capitalization of $90.55 billion, a PE ratio of 17.74, a PEG ratio of 2.36 and a beta of 0.67.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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 firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

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.

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