Norinchukin Bank The Has $3.99 Million Position in Elevance Health, Inc. (NYSE:ELV)

Norinchukin Bank The grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,825 shares of the company's stock after buying an additional 1,063 shares during the quarter. Norinchukin Bank The's holdings in Elevance Health were worth $3,993,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ELV. Vanguard Group Inc. increased its stake in Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares during the last quarter. Wellington Management Group LLP grew its stake in Elevance Health by 42.5% during the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC increased its position in Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after buying an additional 115,971 shares during the period. Sanders Capital LLC lifted its stake in Elevance Health by 1.7% in the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after buying an additional 76,896 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Elevance Health by 0.9% during the fourth quarter. Capital International Investors now owns 3,880,630 shares of the company's stock valued at $1,431,559,000 after acquiring an additional 35,576 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Trading Up 0.5 %

Shares of ELV stock traded up $2.21 during trading hours on Thursday, reaching $429.08. 1,485,431 shares of the stock traded hands, compared to its average volume of 1,453,082. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $97.14 billion, a PE ratio of 16.75, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business has a fifty day moving average price of $418.43 and a 200 day moving average price of $409.38.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The company had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.71%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ELV shares. Truist Financial increased their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Guggenheim restated a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research report on Wednesday. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Barclays boosted their target price on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $509.44.

Insider Transactions at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.