Handelsbanken Fonder AB Sells 1,799 Shares of Elevance Health, Inc. $ELV

Handelsbanken Fonder AB decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,637 shares of the company’s stock after selling 1,799 shares during the quarter. Handelsbanken Fonder AB’s holdings in Elevance Health were worth $25,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hartford Funds Management Co LLC lifted its position in Elevance Health by 11.1% during the fourth quarter. Hartford Funds Management Co LLC now owns 718 shares of the company’s stock worth $252,000 after purchasing an additional 72 shares during the period. Profund Advisors LLC raised its stake in Elevance Health by 24.5% during the fourth quarter. Profund Advisors LLC now owns 3,615 shares of the company’s stock worth $1,267,000 after acquiring an additional 712 shares in the last quarter. ProShare Advisors LLC raised its stake in Elevance Health by 2.1% during the fourth quarter. ProShare Advisors LLC now owns 43,157 shares of the company’s stock worth $15,129,000 after acquiring an additional 904 shares in the last quarter. Evergreen Wealth Management LLC raised its stake in Elevance Health by 2.2% during the fourth quarter. Evergreen Wealth Management LLC now owns 17,664 shares of the company’s stock worth $6,192,000 after acquiring an additional 381 shares in the last quarter. Finally, Ironwood Investment Counsel LLC raised its stake in Elevance Health by 23.8% during the fourth quarter. Ironwood Investment Counsel LLC now owns 9,768 shares of the company’s stock worth $3,424,000 after acquiring an additional 1,877 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research analyst reports. Barclays boosted their target price on Elevance Health from $393.00 to $408.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $363.00 to $498.00 in a research note on Wednesday. UBS Group set a $400.00 target price on Elevance Health in a research note on Thursday, January 29th. Truist Financial lowered their price objective on Elevance Health from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Finally, Mizuho upped their price objective on Elevance Health from $385.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $396.16.

Elevance Health Stock Performance

NYSE:ELV opened at $396.18 on Thursday. The company has a market capitalization of $86.04 billion, a PE ratio of 16.85, a P/E/G ratio of 2.29 and a beta of 0.66. The company has a 50 day simple moving average of $329.59 and a two-hundred day simple moving average of $335.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $411.31.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts anticipate that Elevance Health, Inc. will post 26.8 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio is presently 29.26%.

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.