Lansforsakringar Fondforvaltning AB publ Decreases Stake in Elevance Health, Inc. $ELV

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its holdings in Elevance Health, Inc. by 3.7% in Q1, selling 2,902 shares for a total ownership of 75,512 shares valued at approximately $32.8 million.
• Analysts have lowered price targets for Elevance Health, with Barclays reducing its target from $434 to $358, while UBS issued a lower target of $484 after an earlier estimate of $555.
• Insider transactions showed Elevance Health's Director bought 1,200 shares at an average price of $312.15, increasing their stake by 52.13%, while the CEO purchased 8,500 shares at $286.94 each.

Lansforsakringar Fondforvaltning AB publ lessened its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,512 shares of the company's stock after selling 2,902 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Elevance Health were worth $32,845,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC raised its stake in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. Riverview Trust Co increased its stake in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. North Capital Inc. acquired a new position in Elevance Health during the 1st quarter valued at approximately $36,000. Finally, Orion Capital Management LLC acquired a new position in Elevance Health during the 4th quarter valued at approximately $39,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

NYSE ELV traded up $4.10 during mid-day trading on Tuesday, reaching $322.75. 710,014 shares of the stock were exchanged, compared to its average volume of 1,965,615. The company has a market capitalization of $72.68 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.17 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The business's 50 day moving average is $316.85 and its 200-day moving average is $375.23. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 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 the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.12 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ELV shares. Wells Fargo & Company cut their price target on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. Barclays cut their price target on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Leerink Partnrs lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $413.81.

Insider Buying and Selling at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan D. Devore acquired 1,200 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by company insiders.

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.