KLP Kapitalforvaltning AS Takes Position in Elevance Health, Inc. (NYSE:ELV)

KLP Kapitalforvaltning AS acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 81,578 shares of the company's stock, valued at approximately $30,094,000.

A number of other large investors also recently bought and sold shares of ELV. Mutual Advisors LLC boosted its position in Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after purchasing an additional 52 shares in the last quarter. Czech National Bank boosted its holdings in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company's stock valued at $18,551,000 after buying an additional 3,049 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock worth $27,858,000 after buying an additional 50,603 shares during the last quarter. Diversified Trust Co lifted its position in Elevance Health by 13.7% during the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after acquiring an additional 2,725 shares during the last quarter. Finally, JB Capital LLC boosted its stake in Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after acquiring an additional 8,038 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $519.81.

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Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Trading Up 0.3 %

NYSE ELV traded up $1.28 on Thursday, reaching $431.81. 1,075,229 shares of the company were exchanged, compared to its average volume of 1,321,768. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market capitalization of $98.17 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The business's fifty day moving average price is $402.56 and its 200 day moving average price is $422.85. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health's payout ratio is 26.71%.

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.