Nomura Asset Management Co. Ltd. Buys 2,664 Shares of Elevance Health, Inc. (NYSE:ELV)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,990 shares of the company's stock after acquiring an additional 2,664 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Elevance Health were worth $38,995,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Pathway Financial Advisers LLC grew its position in Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock valued at $341,956,000 after purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after buying an additional 538,978 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after acquiring an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock worth $1,117,698,000 after acquiring an additional 523,910 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

ELV has been the topic of several research reports. Truist Financial reaffirmed a "buy" rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald cut their price objective on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. Argus cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, October 18th. Barclays dropped their price target on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Finally, 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 note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $539.20.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company's stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

NYSE ELV traded down $5.68 during trading on Tuesday, hitting $389.98. The company's stock had a trading volume of 2,201,310 shares, compared to its average volume of 1,212,379. Elevance Health, Inc. has a 52 week low of $379.29 and a 52 week high of $567.26. The firm has a market cap of $90.44 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The firm has a 50 day moving average price of $431.73 and a 200 day moving average price of $497.93. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the firm posted $8.99 EPS. The company's revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.67%. Elevance Health's dividend payout ratio is 23.77%.

Elevance Health Company 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.