Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362,031 shares of the company’s stock after buying an additional 21,550 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Elevance Health worth $134,516,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its position in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the last quarter. Stifel Financial Corp grew its holdings in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares in the last quarter. Wellington Management Group LLP grew its holdings in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after buying an additional 286,905 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $129,221,000. Finally, Raymond James Financial Inc. bought a new stake in Elevance Health during the 4th quarter valued at $88,882,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

ELV opened at $431.81 on Friday. The firm has a market capitalization of $98.17 billion, a P/E ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The stock has a fifty day moving average of $403.50 and a 200-day moving average of $422.91. 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 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was 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 yield of 1.58%. Elevance Health’s payout ratio is presently 26.71%.

Analyst Ratings Changes

A number of brokerages have recently commented on ELV. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’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 directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.