Mirae Asset Global Investments Co. Ltd. Buys 5,137 Shares of Elevance Health, Inc. (NYSE:ELV)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,855 shares of the company's stock after purchasing an additional 5,137 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Elevance Health were worth $16,365,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ELV shares. Royal Bank Of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Guggenheim reissued a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $498.87.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

ELV opened at $381.25 on Monday. The firm has a market cap of $86.14 billion, a PE ratio of 14.88, a P/E/G ratio of 0.97 and a beta of 0.60. The stock has a 50-day moving average price of $392.98 and a 200-day moving average price of $398.78. Elevance Health, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. Elevance Health's payout ratio is currently 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.

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