Fjarde AP Fonden Fourth Swedish National Pension Fund Has $18.41 Million Position in Elevance Health, Inc. (NYSE:ELV)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 49,912 shares of the company’s stock after selling 2,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Elevance Health were worth $18,413,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ELV. Eastern Bank acquired a new stake in Elevance Health in the third quarter worth $31,000. Values First Advisors Inc. acquired a new stake in Elevance Health in the third quarter worth $87,000. Dakota Wealth Management raised its holdings in Elevance Health by 12.9% in the third quarter. Dakota Wealth Management now owns 1,068 shares of the company’s stock worth $555,000 after purchasing an additional 122 shares during the period. Silver Oak Securities Incorporated raised its holdings in Elevance Health by 791.4% in the third quarter. Silver Oak Securities Incorporated now owns 1,961 shares of the company’s stock worth $1,024,000 after purchasing an additional 1,741 shares during the period. Finally, Mediolanum International Funds Ltd raised its holdings in Elevance Health by 56.5% in the third quarter. Mediolanum International Funds Ltd now owns 8,328 shares of the company’s stock worth $4,356,000 after purchasing an additional 3,007 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ELV. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho lowered their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Performance

NYSE ELV opened at $385.04 on Friday. The firm has a 50-day moving average of $385.25 and a 200-day moving average of $443.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market cap of $89.30 billion, a PE ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health’s payout ratio is 25.46%.

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.