Mirae Asset Global Investments Co. Ltd. Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Mirae Asset Global Investments Co. Ltd. lowered its position in Elevance Health, Inc. (NYSE:ELV) by 6.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,718 shares of the company’s stock after selling 2,164 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Elevance Health were worth $12,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new position in Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC purchased a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new position in shares of Elevance Health during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC grew its position in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Elevance Health during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. TD Cowen dropped their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. Finally, Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $389.94 on Friday. The stock has a market capitalization of $90.44 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50-day moving average of $386.45 and a 200 day moving average of $454.94. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 34.07 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.