MUFG Securities EMEA plc Makes New $14.15 Million Investment in Elevance Health, Inc. (NYSE:ELV)

MUFG Securities EMEA plc bought a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 30,000 shares of the company's stock, valued at approximately $14,147,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cape Investment Advisory Inc. grew its position in shares of Elevance Health by 2.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 2,821 shares of the company's stock valued at $1,330,000 after purchasing an additional 56 shares during the last quarter. High Ground Investment Management LLP grew its position in shares of Elevance Health by 0.8% in the fourth quarter. High Ground Investment Management LLP now owns 63,370 shares of the company's stock valued at $29,883,000 after purchasing an additional 500 shares during the last quarter. Johnson Financial Group Inc. grew its position in shares of Elevance Health by 377.2% in the fourth quarter. Johnson Financial Group Inc. now owns 272 shares of the company's stock valued at $128,000 after purchasing an additional 215 shares during the last quarter. Founders Financial Alliance LLC grew its position in shares of Elevance Health by 10.2% in the fourth quarter. Founders Financial Alliance LLC now owns 583 shares of the company's stock valued at $275,000 after purchasing an additional 54 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Elevance Health by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 72,177 shares of the company's stock valued at $34,036,000 after purchasing an additional 463 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ELV shares. Barclays raised their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the stock an "outperform" rating in a research note on Friday, April 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, StockNews.com raised shares of Elevance Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 20th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $587.42.

Elevance Health Trading Down 4.1 %

NYSE:ELV traded down $22.53 during trading hours on Friday, hitting $521.41. 1,533,777 shares of the company were exchanged, compared to its average volume of 785,444. The company has a fifty day simple moving average of $523.69 and a 200 day simple moving average of $498.42. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $550.34. The stock has a market capitalization of $121.19 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 1.15 and a beta of 0.79. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm's revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $9.46 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.25%. Elevance Health's payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the firm's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company's stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company's stock.

About Elevance Health

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.