Norinchukin Bank The Has $3.99 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Norinchukin Bank The boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,825 shares of the company's stock after buying an additional 1,063 shares during the period. Norinchukin Bank The's holdings in Elevance Health were worth $3,993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ELV. Tobam boosted its stake in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC lifted its position in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after purchasing an additional 27 shares during the period. Austin Private Wealth LLC increased its holdings in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock valued at $736,000 after purchasing an additional 29 shares in the last quarter. Quent Capital LLC grew its position in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after acquiring an additional 30 shares during the period. Finally, RDA Financial Network increased its position in shares of Elevance Health by 0.5% in the fourth quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after buying an additional 32 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

NYSE ELV traded down $10.52 on Friday, hitting $418.28. The stock had a trading volume of 659,680 shares, compared to its average volume of 1,452,213. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company's 50-day moving average is $419.22 and its two-hundred day moving average is $408.94. The stock has a market cap of $94.69 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.64%. Elevance Health's payout ratio is currently 26.71%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday. Finally, Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $509.44.

Elevance Health Company 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.