Nykredit A S Acquires Shares of 77,041 Elevance Health, Inc. $ELV

Key Points

• Nykredit A S acquired 77,041 shares of Elevance Health during the second quarter, valued at approximately $29.8 million. Institutional investors collectively own 89.24% of the company, with major additions from BlackRock, Bank of New York Mellon, Norges Bank and Legal & General.
• Analyst sentiment remains positive but mixed: Elevance has a consensus “Moderate Buy” rating from 23 analysts and an average price target of $440.90, despite several recent target-price cuts and downgrades to “hold.”
• Elevance reported quarterly adjusted earnings of $7.45 per share, beating estimates by $1.24, while revenue reached $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, equivalent to a 1.7% annualized yield.

Nykredit A S bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,041 shares of the company's stock, valued at approximately $29,794,000.

Several other hedge funds also recently added to or reduced their stakes in ELV. BlackRock Inc. bought a new position in shares of Elevance Health during the second quarter valued at approximately $7,344,424,000. Bank of New York Mellon Corp bought a new position in Elevance Health in the 2nd quarter worth about $1,246,349,000. Norges Bank purchased a new position in shares of Elevance Health during the fourth quarter worth approximately $1,058,165,000. Legal & General Group Plc purchased a new position in shares of Elevance Health during the second quarter worth approximately $688,469,000. Finally, Amundi raised its stake in shares of Elevance Health by 145.7% during the first quarter. Amundi now owns 2,693,664 shares of the company's stock valued at $788,570,000 after acquiring an additional 1,597,497 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ELV. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Elevance Health in a research report on Thursday, August 13th. Wells Fargo & Company lowered their target price on Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. UBS Group increased their target price on Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Finally, Barclays decreased their price objective on Elevance Health from $480.00 to $457.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $440.90.

Elevance Health Stock Down 0.9%

ELV stock opened at $410.71 on Friday. The firm has a 50-day simple moving average of $397.09 and a 200-day simple moving average of $369.87. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The stock has a market capitalization of $89.07 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.16 and a beta of 0.69. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $8.84 EPS. Equities analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's payout ratio is 30.58%.

Elevance Health Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.

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