Asset Management One Co. Ltd. Acquires 1,037 Shares of Elevance Health, Inc. (NYSE:ELV)

Asset Management One Co. Ltd. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 92,560 shares of the company’s stock after purchasing an additional 1,037 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Elevance Health were worth $48,131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Catalytic Wealth RIA LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $291,000. Norden Group LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $227,000. Diversify Advisory Services LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $337,000. Janney Montgomery Scott LLC grew its stake in Elevance Health by 5.6% in the first quarter. Janney Montgomery Scott LLC now owns 28,453 shares of the company’s stock valued at $14,754,000 after acquiring an additional 1,519 shares during the period. Finally, Financial Counselors Inc. boosted its position in shares of Elevance Health by 3.1% during the first quarter. Financial Counselors Inc. now owns 2,111 shares of the company’s stock valued at $1,095,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of several recent research reports. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Truist Financial reiterated a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. TD Cowen decreased their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $544.53.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $0.67 during trading on Monday, reaching $414.68. 127,452 shares of the stock traded hands, compared to its average volume of 1,117,893. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a 50-day moving average of $501.96 and a 200-day moving average of $521.52. The stock has a market capitalization of $96.17 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the prior year, the company earned $8.99 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts forecast that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.57%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

About Elevance Health

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.