Norinchukin Bank The Purchases 1,063 Shares of Elevance Health, Inc. (NYSE:ELV)

Norinchukin Bank The increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,825 shares of the company’s stock after buying an additional 1,063 shares during the period. Norinchukin Bank The’s holdings in Elevance Health were worth $3,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ELV. North Peak Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $71,793,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Elevance Health during the fourth quarter worth about $42,636,000. Capital International Inc. CA boosted its stake in Elevance Health by 15.9% in the fourth quarter. Capital International Inc. CA now owns 44,389 shares of the company’s stock valued at $16,375,000 after acquiring an additional 6,104 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Elevance Health by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,543 shares of the company’s stock valued at $689,677,000 after acquiring an additional 90,687 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Elevance Health by 48.7% during the 4th quarter. First Trust Advisors LP now owns 1,267,396 shares of the company’s stock worth $467,542,000 after purchasing an additional 414,989 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Elevance Health stock opened at $424.44 on Friday. The business has a 50-day simple moving average of $416.77 and a 200 day simple moving average of $410.42. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock has a market cap of $96.09 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77. 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 (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.61%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ELV shares. Guggenheim started coverage on Elevance Health in a report on Wednesday, April 9th. They set a “buy” rating and a $518.00 price objective for the company. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday, March 17th. Wells Fargo & Company dropped 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 lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $508.81.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

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.