Korea Investment CORP Has $67.33 Million Stake in Elevance Health, Inc. $ELV

Korea Investment CORP raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,095 shares of the company’s stock after purchasing an additional 16,939 shares during the quarter. Korea Investment CORP owned 0.08% of Elevance Health worth $67,327,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC lifted its stake in Elevance Health by 0.4% in the 1st quarter. LPL Financial LLC now owns 177,911 shares of the company’s stock worth $77,384,000 after acquiring an additional 702 shares in the last quarter. Prosperity Consulting Group LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at about $224,000. Mackenzie Financial Corp increased its holdings in shares of Elevance Health by 5.1% in the 1st quarter. Mackenzie Financial Corp now owns 51,844 shares of the company’s stock valued at $22,550,000 after purchasing an additional 2,538 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Elevance Health in the first quarter worth approximately $579,000. Finally, Arkadios Wealth Advisors lifted its position in shares of Elevance Health by 74.5% in the first quarter. Arkadios Wealth Advisors now owns 1,932 shares of the company’s stock worth $840,000 after purchasing an additional 825 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Mizuho lowered their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. The Goldman Sachs Group began coverage on shares of Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 target price for the company. TD Cowen boosted their price target on shares of Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim upped their price target on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein cut their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, October 16th. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $398.44.

Elevance Health Stock Up 0.7%

Shares of ELV stock opened at $338.61 on Friday. The stock’s 50 day simple moving average is $332.82 and its 200 day simple moving average is $336.50. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $75.25 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.23 and a beta of 0.60.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter last year, the company posted $8.37 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

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.