Elevance Health, Inc. (NYSE:ELV) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Elevance Health, Inc. (NYSE:ELV) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,291 shares of the company’s stock after purchasing an additional 3,190 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Elevance Health were worth $11,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ELV. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at about $26,000. OFI Invest Asset Management acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $29,000. Crews Bank & Trust acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $34,000. Dunhill Financial LLC lifted 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. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.0 %

Shares of NYSE:ELV opened at $409.46 on Tuesday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company’s 50 day moving average is $391.45 and its two-hundred day moving average is $432.42. 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 company has a market cap of $93.09 billion, a PE ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS 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%. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.67%. Elevance Health’s dividend payout ratio is currently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. Argus restated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays upped their price objective 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. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

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.