Livforsakringsbolaget Skandia Omsesidigt Buys 200 Shares of Elevance Health, Inc. (NYSE:ELV)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Elevance Health, Inc. (NYSE:ELV) by 0.7% in the fourth quarter, Holdings Channel reports. The firm owned 28,036 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Elevance Health were worth $10,339,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ELV. Raelipskie Partnership bought a new position in Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank bought a new position in Elevance Health in the third quarter valued at approximately $31,000. Crews Bank & Trust bought a new position in Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC grew its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on ELV shares. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Morgan Stanley cut their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

Shares of NYSE ELV opened at $389.94 on Friday. The stock has a market capitalization of $90.44 billion, a PE ratio of 15.23, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a fifty day moving average price of $386.45 and a two-hundred day moving average price of $454.94. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities analysts predict that Elevance Health, Inc. will post 34.07 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.75%. Elevance Health’s payout ratio is currently 26.71%.

About Elevance Health

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.