Asset Management One Co. Ltd. Purchases 1,292 Shares of Elevance Health, Inc. (NYSE:ELV)

Asset Management One Co. Ltd. boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,852 shares of the company’s stock after acquiring an additional 1,292 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Elevance Health were worth $34,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Raelipskie Partnership purchased a new stake in Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC lifted its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health in the 3rd quarter worth approximately $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $389.58 on Friday. The firm has a market capitalization of $90.35 billion, a PE ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. 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 stock has a 50-day simple moving average of $384.93 and a two-hundred day simple moving average of $450.29. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Mizuho lowered their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.