SBI Okasan Asset Management Co.Ltd. Invests $1.43 Million in Elevance Health, Inc. $ELV

Key Points

• SBI Okasan Asset Management opened a new position in Elevance Health, buying 4,100 shares worth about $1.43 million in the fourth quarter.
• Institutional ownership in Elevance remains high at 89.24%, and several other large investors recently increased their stakes as well.
• Wall Street sentiment is broadly positive: analysts now rate the stock Moderate Buy on average, with a consensus price target of $403.11, while Elevance also beat quarterly earnings expectations and raised its dividend to $1.72 per share.

SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,100 shares of the company's stock, valued at approximately $1,428,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company's stock worth $63,666,000 after purchasing an additional 11,745 shares during the period. Glenview Trust co boosted its stake in Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company's stock worth $630,000 after purchasing an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock worth $25,650,000 after purchasing an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock worth $16,478,000 after purchasing an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock worth $17,080,000 after purchasing an additional 23,180 shares during the period. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Elevance Health from $397.00 to $411.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a "hold" rating to a "buy" rating and raised their target price for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Bank of America upgraded Elevance Health from a "neutral" rating to a "buy" rating and raised their target price for the stock from $405.00 to $435.00 in a research note on Wednesday, April 29th. Mizuho raised their price target on Elevance Health from $385.00 to $435.00 and gave the company an "outperform" rating in a report on Wednesday, May 20th. Finally, Weiss Ratings raised Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $403.11.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $392.47 on Friday. The stock has a market cap of $85.23 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.21 and a beta of 0.66. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $408.00. The stock's 50-day moving average is $341.76 and its 200 day moving average is $338.51.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 29.26%.

Elevance Health Company 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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