Fjarde AP Fonden Fourth Swedish National Pension Fund Has $20.32 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Elevance Health by 6.4%, leaving it with approximately $20.32 million in shares after selling 3,200 shares.
• CEO Gail Boudreaux purchased 8,500 shares of Elevance Health at an average cost of $286.94 per share, increasing her ownership stake by 5.96%.
• Elevance Health reported a Q2 EPS of $8.84, missing analysts' expectations, though its revenue of $49.42 billion exceeded forecasts, showing a year-over-year growth of 14.3%.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,712 shares of the company's stock after selling 3,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Elevance Health were worth $20,318,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in Elevance Health in the 1st quarter valued at about $789,943,000. GAMMA Investing LLC lifted its position in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after acquiring an additional 1,472,712 shares in the last quarter. D1 Capital Partners L.P. bought a new position in Elevance Health in the 4th quarter valued at about $294,751,000. Vanguard Group Inc. lifted its position in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company's stock valued at $9,635,281,000 after acquiring an additional 666,534 shares in the last quarter. Finally, Boston Partners lifted its position in Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company's stock valued at $372,039,000 after acquiring an additional 605,689 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Up 0.6%

ELV opened at $294.18 on Thursday. The company has a fifty day moving average price of $335.00 and a 200-day moving average price of $383.25. The firm has a market capitalization of $66.24 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $10.12 earnings per share. Equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is 29.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group reissued a "buy" rating and set a $484.00 target price (down previously from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Barclays dropped their target price on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Guggenheim dropped their target price on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Argus reissued a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $418.19.

Elevance Health Profile

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.

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