Elevance Health, Inc. $ELV Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 3.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 85,437 shares of the company’s stock after selling 3,266 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Elevance Health were worth $29,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Hartford Funds Management Co LLC raised its stake in shares of Elevance Health by 11.1% during the fourth quarter. Hartford Funds Management Co LLC now owns 718 shares of the company’s stock worth $252,000 after purchasing an additional 72 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Elevance Health by 24.5% during the fourth quarter. Profund Advisors LLC now owns 3,615 shares of the company’s stock worth $1,267,000 after purchasing an additional 712 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Elevance Health by 2.1% during the fourth quarter. ProShare Advisors LLC now owns 43,157 shares of the company’s stock worth $15,129,000 after purchasing an additional 904 shares during the last quarter. Evergreen Wealth Management LLC raised its stake in shares of Elevance Health by 2.2% during the fourth quarter. Evergreen Wealth Management LLC now owns 17,664 shares of the company’s stock worth $6,192,000 after purchasing an additional 381 shares during the last quarter. Finally, Ironwood Investment Counsel LLC raised its stake in shares of Elevance Health by 23.8% during the fourth quarter. Ironwood Investment Counsel LLC now owns 9,768 shares of the company’s stock worth $3,424,000 after purchasing an additional 1,877 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.1%

Elevance Health stock opened at $402.32 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $87.37 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $412.96. The stock’s fifty day moving average is $327.28 and its two-hundred day moving average is $334.81.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Analysts predict that Elevance Health, Inc. will post 26.8 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Analysts Set New Price Targets

Several research firms have issued reports on ELV. Robert W. Baird increased their price objective on Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada cut Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective for the company. in a research report on Tuesday, February 3rd. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Bank of America upgraded Elevance Health from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $435.00 in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $384.58.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.