Taikang Asset Management Hong Kong Co Ltd Boosts Holdings in Elevance Health, Inc. $ELV

Taikang Asset Management Hong Kong Co Ltd grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,280 shares of the company’s stock after purchasing an additional 1,647 shares during the quarter. Elevance Health accounts for about 1.1% of Taikang Asset Management Hong Kong Co Ltd’s holdings, making the stock its 22nd biggest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Elevance Health were worth $11,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. Rossby Financial LCC boosted its stake in shares of Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after purchasing an additional 44 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $32,000. ORG Partners LLC boosted its stake in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $38,000. Finally, Dorato Capital Management purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.1%

Shares of NYSE:ELV opened at $397.53 on Wednesday. The firm’s 50 day moving average price is $370.56 and its 200 day moving average price is $345.84. The stock has a market cap of $86.33 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.67. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ELV shares. Truist Financial raised their price objective on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Guggenheim raised their price objective on shares of Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Mizuho raised their price objective on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $416.11.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.