AIA Group Ltd Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

AIA Group Ltd lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 27.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,445 shares of the company’s stock after selling 2,023 shares during the quarter. AIA Group Ltd’s holdings in Elevance Health were worth $2,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. Roundview Capital LLC increased its position in Elevance Health by 2.9% in the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after buying an additional 52 shares during the period. Moors & Cabot Inc. acquired a new stake in Elevance Health in the first quarter worth $251,000. Baird Financial Group Inc. increased its position in Elevance Health by 0.4% in the first quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock worth $7,305,000 after buying an additional 57 shares during the period. Zions Bancorporation N.A. increased its position in Elevance Health by 52.1% in the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock worth $439,000 after buying an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in Elevance Health by 102.9% in the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after buying an additional 429 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 3.2 %

Shares of ELV stock opened at $525.19 on Friday. The stock has a 50-day simple moving average of $508.63 and a 200 day simple moving average of $482.59. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The stock has a market capitalization of $122.21 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.12 and a beta of 0.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the business posted $9.46 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.03 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. Elevance Health’s dividend payout ratio (DPR) is 25.90%.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of several analyst reports. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $575.00.

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.