Resona Asset Management Co. Ltd. Has $28.62 Million Stake in Elevance Health, Inc. $ELV

Resona Asset Management Co. Ltd. lessened its position in Elevance Health, Inc. (NYSE:ELV) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,703 shares of the company’s stock after selling 3,514 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Elevance Health were worth $28,620,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC increased its stake in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in Elevance Health during the 2nd quarter worth approximately $32,000. Motco grew its holdings in Elevance Health by 334.8% during the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. True Wealth Design LLC increased its position in Elevance Health by 431.8% in the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc raised its stake in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $370.77 on Friday. The firm has a market cap of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week 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 business’s 50 day moving average price is $349.17 and its two-hundred day moving average price is $328.79.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ELV shares. Wells Fargo & Company boosted their price objective on shares of Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Sanford C. Bernstein reissued an “outperform” rating and issued a $431.00 price target on shares of Elevance Health in a research note on Tuesday, January 6th. Wolfe Research set a $425.00 price objective on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.63.

About Elevance Health

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.