Swedbank AB Boosts Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Swedbank AB increased its stake in Elevance Health, Inc. by 74.5% during Q1, owning approximately 0.14% of the company valued at $136.4 million.
• Multiple research firms have recently adjusted their price targets for Elevance Health, with an average target now at $411.06 and a consensus rating of "Moderate Buy."
• The company plans to pay a quarterly dividend of $1.71 per share on September 25th, contributing to an annualized yield of 2.2%.

Swedbank AB boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 74.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 313,650 shares of the company's stock after purchasing an additional 133,923 shares during the period. Swedbank AB owned approximately 0.14% of Elevance Health worth $136,425,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. eCIO Inc. acquired a new stake in shares of Elevance Health in the first quarter worth $241,000. First Hawaiian Bank increased its position in shares of Elevance Health by 11.2% in the first quarter. First Hawaiian Bank now owns 5,309 shares of the company's stock worth $2,309,000 after acquiring an additional 535 shares in the last quarter. Modern Wealth Management LLC increased its position in shares of Elevance Health by 10.1% in the first quarter. Modern Wealth Management LLC now owns 2,032 shares of the company's stock worth $884,000 after acquiring an additional 187 shares in the last quarter. Strs Ohio acquired a new stake in shares of Elevance Health in the first quarter worth $62,427,000. Finally, Jacobi Capital Management LLC increased its position in shares of Elevance Health by 20.6% in the first quarter. Jacobi Capital Management LLC now owns 1,064 shares of the company's stock worth $463,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ELV. Truist Financial dropped their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Robert W. Baird lowered their price target on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Guggenheim lowered their price target on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a report on Friday, July 18th. Barclays raised their price target on shares of Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Finally, Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $411.06.

Elevance Health Price Performance

Shares of ELV stock opened at $314.34 on Friday. The firm has a market cap of $70.78 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.12 and a beta of 0.59. 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 1-year low of $273.71 and a 1-year high of $559.95. The firm has a fifty day moving average of $307.25 and a two-hundred day moving average of $371.33.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.11%.

Insider Buying and Selling at Elevance Health

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

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