Handelsinvest Investeringsforvaltning Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Handelsinvest Investeringsforvaltning decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,567 shares of the company’s stock after selling 464 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Elevance Health were worth $1,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health during the 4th quarter worth about $28,000. Alaska Permanent Fund Corp acquired a new stake in shares of Elevance Health during the 4th quarter worth about $31,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth about $32,000. Register Financial Advisors LLC acquired a new stake in shares of Elevance Health during the 1st quarter worth about $32,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Jefferies Financial Group increased their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Truist Financial reiterated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Wells Fargo & Company increased their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Morgan Stanley initiated coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $611.36.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $531.44 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $534.41 and a two-hundred day moving average of $509.38. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $550.34. The company has a market cap of $123.52 billion, a P/E ratio of 20.25, a PEG ratio of 1.20 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the firm posted $9.46 earnings per share. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is presently 24.64%.

Elevance Health Company 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.