FUKOKU MUTUAL LIFE INSURANCE Co Acquires 166 Shares of Elevance Health, Inc. (NYSE:ELV)

FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,148 shares of the company’s stock after buying an additional 166 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Elevance Health were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter worth $26,000. Crews Bank & Trust acquired a new position in shares of Elevance Health during the fourth quarter worth $34,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Elevance Health during the third quarter worth $44,000. Finally, Financial Perspectives Inc acquired a new position in shares of Elevance Health during the fourth quarter worth $50,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELV has been the topic of several research reports. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Down 3.9 %

ELV stock opened at $386.22 on Thursday. The company’s 50-day simple moving average is $386.62 and its 200-day simple moving average is $440.93. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market cap of $87.81 billion, a P/E ratio of 15.08, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.77%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Elevance Health 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.