Elevance Health, Inc. (NYSE:ELV) Stock Holdings Lessened by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,912 shares of the company’s stock after selling 2,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Elevance Health were worth $18,413,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Howard Capital Management Inc. grew its position in Elevance Health by 5.0% during the 4th quarter. Howard Capital Management Inc. now owns 1,524 shares of the company’s stock worth $562,000 after purchasing an additional 72 shares in the last quarter. Wealthspire Advisors LLC grew its position in Elevance Health by 22.4% during the 4th quarter. Wealthspire Advisors LLC now owns 1,028 shares of the company’s stock worth $379,000 after purchasing an additional 188 shares in the last quarter. Fisher Funds Management LTD purchased a new position in Elevance Health during the 4th quarter worth approximately $8,820,000. Callan Capital LLC grew its position in Elevance Health by 50.8% during the 4th quarter. Callan Capital LLC now owns 1,262 shares of the company’s stock worth $466,000 after purchasing an additional 425 shares in the last quarter. Finally, Oxbow Advisors LLC grew its position in Elevance Health by 11.0% during the 4th quarter. Oxbow Advisors LLC now owns 11,573 shares of the company’s stock worth $4,269,000 after purchasing an additional 1,147 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

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

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%. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company lowered their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Mizuho lowered their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health 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.