70,908 Shares in Elevance Health, Inc. $ELV Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 70,908 shares of the company’s stock, valued at approximately $27,570,000.

Several other institutional investors have also recently added to or reduced their stakes in ELV. Activest Wealth Management lifted its stake in Elevance Health by 146.2% during the third quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after purchasing an additional 38 shares in the last quarter. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Kilter Group LLC acquired a new stake in shares of Elevance Health in the second quarter valued at $28,000. Main Street Group LTD acquired a new stake in shares of Elevance Health in the first quarter valued at $39,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Leerink Partners boosted their price objective on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. Barclays lifted their target price on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $451.00 price target on shares of Elevance Health in a research note on Friday, October 23rd. Finally, TD Cowen boosted their price target on shares of Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $456.48.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Trading Down 1.6%

NYSE ELV opened at $413.52 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $450.69. The stock has a market capitalization of $89.34 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.98 and a beta of 0.70. The firm has a 50 day moving average of $410.87 and a two-hundred day moving average of $372.53.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. During the same period in the prior year, the firm posted $6.03 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts expect that Elevance Health, Inc. will post 29.18 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $1.72 per share. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s payout ratio is presently 29.34%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.