Skandinaviska Enskilda Banken AB publ Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 38.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,898 shares of the company’s stock after selling 65,902 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Elevance Health were worth $56,840,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of Elevance Health in the second quarter valued at $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Elevance Health during the fourth quarter worth about $28,000. Palisade Asset Management LLC purchased a new position in shares of Elevance Health during the first quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Elevance Health during the second quarter worth about $28,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Elevance Health during the second quarter worth about $30,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELV has been the subject of a number of research reports. Bank of America reiterated a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Morgan Stanley assumed coverage on shares of Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Robert W. Baird started coverage on shares of Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Finally, Barclays cut their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Buy” and an average target price of $604.29.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock worth $17,588,116 over the last quarter. 0.35% of the stock is currently owned by company insiders.

Elevance Health Trading Down 0.3 %

Shares of ELV stock opened at $538.00 on Friday. Elevance Health, Inc. has a 12-month low of $431.38 and a 12-month high of $567.26. The company has a market capitalization of $125.04 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.19 and a beta of 0.82. The firm has a 50-day moving average price of $536.11 and a 200 day moving average price of $528.84. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $9.04 EPS. Research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.