AIA Group Ltd Raises Stock Position in Elevance Health, Inc. (NYSE:ELV)

Key Points

• AIA Group Ltd increased its stake in Elevance Health by 669.0%, acquiring an additional 8,429 shares, bringing its total holdings to 9,689 shares valued at approximately $4.21 million.
• Insider trading activity revealed that CEO Gail Boudreaux purchased 8,500 shares valued at nearly $2.44 million, which raised her stake in the company by 5.96%.
• Analysts have recently adjusted their price targets for Elevance Health, with projections ranging from $358 to $485, and the stock has received an average rating of "Moderate Buy".

AIA Group Ltd boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 669.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,689 shares of the company's stock after acquiring an additional 8,429 shares during the quarter. AIA Group Ltd's holdings in Elevance Health were worth $4,214,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC grew its stake in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after buying an additional 38 shares during the last quarter. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $25,000. Riverview Trust Co grew its stake in shares of Elevance Health by 1,340.0% during the first quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after buying an additional 67 shares during the last quarter. North Capital Inc. bought a new position in shares of Elevance Health during the first quarter valued at approximately $36,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health during the first quarter valued at approximately $43,000. 89.24% of the stock is owned by institutional investors.

Insider Activity at Elevance Health

In related news, CEO Gail Boudreaux acquired 8,500 shares of the firm's stock in a transaction on Friday, July 18th. The stock was bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Elevance Health Trading Up 0.5%

Shares of ELV stock traded up $1.57 during trading on Tuesday, hitting $292.36. 1,522,528 shares of the stock traded hands, compared to its average volume of 3,341,808. The firm has a market capitalization of $65.83 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm's fifty day moving average price is $336.72 and its 200-day moving average price is $383.87. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). The company had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $10.12 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.3%. Elevance Health's payout ratio is presently 29.11%.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Barclays lowered their target price on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Wall Street Zen lowered Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Leerink Partners restated a "market perform" rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $418.19.

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.