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

Asset Management One Co. Ltd. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,852 shares of the company's stock after purchasing an additional 1,292 shares during the period. 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.

Several other institutional investors have also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter valued at about $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter worth about $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the 3rd quarter worth about $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health in the 4th quarter worth about $34,000. Finally, Dunhill Financial LLC raised its holdings in shares of 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 acquiring an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ELV shares. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Morgan Stanley reduced their price objective on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $517.03.

Elevance Health Stock Performance

Shares of ELV stock traded down $8.16 during trading hours on Tuesday, hitting $381.09. 568,621 shares of the company were exchanged, compared to its average volume of 1,609,154. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market capitalization of $88.38 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $384.96 and a 200 day simple moving average of $447.12.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data 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%. Research analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed 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. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's payout ratio is currently 25.46%.

About Elevance Health

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.