Rakuten Investment Management Inc. Sells 24,731 Shares of Elevance Health, Inc. $ELV

Rakuten Investment Management Inc. cut its stake in Elevance Health, Inc. (NYSE:ELV) by 45.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,360 shares of the company’s stock after selling 24,731 shares during the period. Rakuten Investment Management Inc.’s holdings in Elevance Health were worth $10,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Abound Financial LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at about $79,000. Islay Capital Management LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $867,000. 71 West Capital Partners bought a new stake in Elevance Health during the 4th quarter worth approximately $269,000. Alberta Investment Management Corp increased its stake in Elevance Health by 63.8% during the 4th quarter. Alberta Investment Management Corp now owns 17,200 shares of the company’s stock worth $6,029,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Sienna Gestion increased its stake in Elevance Health by 11.8% during the 4th quarter. Sienna Gestion now owns 18,686 shares of the company’s stock worth $6,485,000 after purchasing an additional 1,976 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ELV shares. Truist Financial increased their target price on Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Bank of America increased their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Citigroup raised Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings raised Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, UBS Group raised their price target on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $416.11.

Elevance Health Price Performance

Shares of ELV opened at $397.53 on Wednesday. The stock has a market capitalization of $86.33 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.27 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98. The company has a 50 day moving average of $370.56 and a 200-day moving average of $345.84. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

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.