Daiwa Securities Group Inc. Has $11.91 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Daiwa Securities Group Inc. increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,291 shares of the company's stock after acquiring an additional 3,190 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Elevance Health were worth $11,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health during the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new position in shares of Elevance Health in the 4th quarter valued at $34,000. Dunhill Financial LLC boosted 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 valued at $37,000 after buying an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV stock traded down $6.27 during trading on Wednesday, hitting $415.77. 915,031 shares of the company's stock traded hands, compared to its average volume of 1,634,694. 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 stock has a fifty day moving average price of $392.54 and a two-hundred day moving average price of $431.56. The stock has a market capitalization of $94.53 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

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Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate 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 anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is an increase from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.65%. Elevance Health's payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ELV shares. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their target price on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Saturday, March 1st. Finally, Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average price target of $517.03.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

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.