Daiichi Life Insurance Co. Ltd. Takes $4.20 Million Position in Elevance Health, Inc. $ELV

Key Points

• Daiichi Life Insurance acquired 10,863 shares of Elevance Health worth approximately $4.20 million during the second quarter. Institutional investors collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, exceeding analysts’ $6.21 estimate, while revenue reached $49.83 billion and rose 0.8% year over year.
• The company declared a quarterly dividend of $1.72 per share, equivalent to an annualized $6.88 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average target price of $440.90.

Daiichi Life Insurance Co. Ltd. acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,863 shares of the company's stock, valued at approximately $4,201,000.

Several other large investors also recently added to or reduced their stakes in the business. WealthCollab LLC increased its stake in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Signet Financial Management LLC boosted its position in Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company's stock worth $245,000 after purchasing an additional 28 shares during the period. Sapient Capital LLC grew its stake in Elevance Health by 1.2% in the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company's stock valued at $765,000 after buying an additional 31 shares during the last quarter. Mutual Advisors LLC grew its position in shares of Elevance Health by 1.4% in the fourth quarter. Mutual Advisors LLC now owns 2,290 shares of the company's stock valued at $803,000 after purchasing an additional 32 shares during the last quarter. Finally, Waddell & Associates LLC grew its holdings in Elevance Health by 2.6% in the 4th quarter. Waddell & Associates LLC now owns 1,241 shares of the company's stock valued at $435,000 after buying an additional 32 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 0.0%

Shares of ELV opened at $400.66 on Monday. The stock has a fifty day moving average price of $394.76 and a two-hundred day moving average price of $360.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a market cap of $86.89 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same period in the prior year, the business earned $8.84 earnings per share. Elevance Health's quarterly revenue was up .8% on a year-over-year basis. Analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health's payout ratio is 30.58%.

Analyst Ratings Changes

ELV has been the topic of several research reports. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Evercore reissued a "hold" rating on shares of Elevance Health in a research report on Tuesday, May 19th. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Royal Bank Of Canada decreased their price objective on Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a report on Thursday, July 16th. Finally, Wells Fargo & Company lowered their price objective on Elevance Health from $492.00 to $473.00 and set an "overweight" rating on the stock in a research note on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $440.90.

Insider Buying and Selling

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Elevance Health Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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