Elevance Health, Inc. $ELV Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Elevance Health, Inc. (NYSE:ELV) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,056 shares of the company’s stock after purchasing an additional 2,001 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Elevance Health were worth $12,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health during the 1st quarter valued at $299,000. Focus Partners Wealth grew its position in Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares during the last quarter. GAMMA Investing LLC grew its position in Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock worth $1,475,000 after purchasing an additional 1,588 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Elevance Health in the 1st quarter worth $522,000. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in Elevance Health in the 1st quarter worth $3,799,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $315.23 on Friday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $544.54. The firm has a market cap of $70.98 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 1.13 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $303.55 and its two-hundred day moving average price is $368.41.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the firm posted $10.12 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s payout ratio is currently 29.11%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELV. Barclays lifted their target price on shares of Elevance Health from $327.00 to $373.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. UBS Group decreased their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Leerink Partners reiterated a “market perform” rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Wells Fargo & Company decreased their target price on shares of Elevance Health from $400.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $411.06.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the company’s stock in a transaction on Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares of the company’s stock, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.29% 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.