Nomura Holdings Inc. lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 168.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,335 shares of the company's stock after buying an additional 5,234 shares during the period. Nomura Holdings Inc.'s holdings in Elevance Health were worth $3,075,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Accredited Wealth Management LLC acquired a new position in Elevance Health during the fourth quarter worth $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $26,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. bought a new stake in Elevance Health during the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new stake in Elevance Health during the 4th quarter valued at $29,000. Institutional investors own 89.24% of the company's stock.
Elevance Health Trading Up 0.0%
NYSE:ELV traded up $0.09 during mid-day trading on Monday, hitting $403.38. The company had a trading volume of 1,329,180 shares, compared to its average volume of 1,507,988. The firm has a market cap of $91.14 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business's fifty day moving average is $422.47 and its two-hundred day moving average is $403.64. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.
Insider Activity at Elevance Health
In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on ELV shares. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $510.38.
Check Out Our Latest Stock Analysis on Elevance Health
Elevance Health Profile
(
Free Report)
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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