Swedbank AB Buys 38,086 Shares of Elevance Health, Inc. (NYSE:ELV)

Swedbank AB grew its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,727 shares of the company's stock after buying an additional 38,086 shares during the quarter. Swedbank AB owned 0.08% of Elevance Health worth $66,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Cypress Wealth Services LLC increased its position in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock valued at $353,000 after purchasing an additional 23 shares during the last quarter. Atomi Financial Group Inc. raised its position in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company's stock worth $320,000 after acquiring an additional 25 shares during the period. Lifeworks Advisors LLC raised its holdings in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC raised its position in shares of Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock valued at $477,000 after purchasing an additional 26 shares during the period. Finally, Fullcircle Wealth LLC lifted its stake in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock valued at $906,000 after buying an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $4.08 during trading on Thursday, hitting $396.22. 635,607 shares of the stock traded hands, compared to its average volume of 1,800,873. The firm's fifty day moving average is $386.71 and its 200-day moving average is $459.16. The stock has a market cap of $91.89 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Research analysts expect that Elevance Health, Inc. will post 32.95 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.73%. Elevance Health's dividend payout ratio is currently 23.77%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ELV shares. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Finally, Argus reaffirmed a "hold" rating and set a $405.40 target price on shares of Elevance Health in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Company 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.