Norges Bank Acquires Shares of 3,018,586 Elevance Health, Inc. $ELV

Norges Bank bought a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,018,586 shares of the company’s stock, valued at approximately $1,058,165,000. Norges Bank owned 1.36% of Elevance Health as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Physician Wealth Advisors Inc. raised its holdings in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the period. Rossby Financial LCC raised its holdings in Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares during the period. ORG Partners LLC raised its holdings in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares during the period. Dorato Capital Management acquired a new stake in Elevance Health in the fourth quarter worth $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Elevance Health in the fourth quarter worth $38,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.4%

Shares of NYSE:ELV opened at $394.40 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $343.75 and its 200 day simple moving average is $338.90. The firm has a market cap of $85.65 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.22 and a beta of 0.66.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the previous year, the business earned $11.97 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 26.94 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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 paid a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s payout ratio is presently 29.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Citigroup upgraded shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein raised their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, UBS Group raised their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $403.11.

Elevance Health Company Profile

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.