Elevance Health, Inc. (NYSE:ELV) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its position in Elevance Health, Inc. (NYSE:ELV) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,280 shares of the company’s stock after selling 39 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Elevance Health were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth $26,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% during 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 during the period. Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health during the fourth quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new position in Elevance Health in the 4th quarter valued at about $29,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Trading Up 1.6 %

NYSE ELV opened at $430.29 on Thursday. The firm’s 50 day moving average price is $402.56 and its two-hundred day moving average price is $422.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market cap of $97.83 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.18 and a beta of 0.86.

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 return on equity of 18.28% and a net margin of 3.38%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a dividend of $1.71 per share. 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 1.59%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

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.