Asset Management One Co. Ltd. Buys 5,809 Shares of Elevance Health, Inc. (NYSE:ELV)

Asset Management One Co. Ltd. raised its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,661 shares of the company's stock after buying an additional 5,809 shares during the period. Asset Management One Co. Ltd.'s holdings in Elevance Health were worth $43,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter worth $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the 4th quarter worth $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the 4th quarter worth $29,000. WealthTrak Capital Management LLC acquired a new position in Elevance Health in the 4th quarter worth about $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health in the fourth quarter valued at about $30,000. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Robert W. Baird reiterated a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Argus set a $465.00 price target on shares of Elevance Health in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average price target of $498.87.

Insider Buying and Selling at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.29% of the company's stock.

Elevance Health Trading Up 0.4%

ELV stock traded up $1.66 during midday trading on Thursday, hitting $375.52. The stock had a trading volume of 151,990 shares, compared to its average volume of 1,569,137. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a market cap of $84.84 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60. The business has a fifty day moving average price of $394.86 and a two-hundred day moving average price of $398.76. Elevance Health, Inc. has a 1-year low of $357.45 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

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.