Nykredit A S Invests $31.98 Million in Elevance Health, Inc. $ELV

Key Points

• Nykredit A/S purchased 82,705 shares of Elevance Health during the second quarter, establishing a new stake valued at approximately $31.98 million. Institutional investors collectively own 89.24% of the company.
• Analysts maintain a generally positive view, with 15 Buy ratings and eight Hold ratings producing a “Moderate Buy” consensus and an average price target of $440.90.
• Elevance Health exceeded quarterly earnings expectations, reporting EPS of $7.45 versus the $6.21 consensus and revenue of $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, representing a 1.7% annualized yield.

Nykredit A S purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 82,705 shares of the company's stock, valued at approximately $31,985,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthCollab LLC boosted its position in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health in the 2nd quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $32,000. Finally, Main Street Group LTD purchased a new position in shares of Elevance Health in the 1st quarter valued at approximately $39,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Royal Bank Of Canada reduced their price target on Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 16th. Morgan Stanley raised their price objective on Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. Evercore reaffirmed a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Mizuho upped their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $395.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Fifteen research 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 company has a consensus rating of "Moderate Buy" and an average target price of $440.90.

Insider Transactions at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of the company's stock in a transaction dated 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 $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Elevance Health stock opened at $415.05 on Friday. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $90.01 billion, a P/E ratio of 18.45, a PEG ratio of 2.11 and a beta of 0.69. The stock's 50 day moving average is $396.48 and its 200 day moving average is $364.27.

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 (EPS) for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to analysts' expectations of $48.88 billion. During the same quarter in the previous year, the business earned $8.84 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's payout ratio is currently 30.58%.

About Elevance Health

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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