Danske Bank A S Makes New Investment in Elevance Health, Inc. $ELV

Danske Bank A S purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 122,544 shares of the company’s stock, valued at approximately $47,391,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Diversify Advisory Services LLC purchased a new stake in shares of Elevance Health in the 2nd quarter worth about $831,000. Wealthfront Advisers LLC purchased a new position in Elevance Health during the 2nd quarter valued at about $8,596,000. Hurlow Wealth Management Group Inc. purchased a new position in Elevance Health during the 2nd quarter valued at about $534,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Elevance Health during the second quarter worth about $584,000. Finally, Aljian Capital Management LLC acquired a new position in Elevance Health during the second quarter worth about $802,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $440.90.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Up 0.1%

ELV stock opened at $398.53 on Thursday. The company has a 50 day moving average price of $394.87 and a two-hundred day moving average price of $359.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a market capitalization of $86.43 billion, a P/E ratio of 17.71, a PEG ratio of 2.29 and a beta of 0.68. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the company posted $8.84 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is 30.58%.

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.