Tokio Marine Asset Management Co. Ltd. Buys 471 Shares of Elevance Health, Inc. (NYSE:ELV)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,105 shares of the company’s stock after purchasing an additional 471 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Elevance Health were worth $3,175,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ELV. Ameriprise Financial Inc. grew its holdings in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. Capital International Investors lifted its holdings in shares of Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after acquiring an additional 123,802 shares during the last quarter. Legal & General Group Plc boosted its position in Elevance Health by 2.9% during the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock valued at $1,217,607,000 after buying an additional 64,376 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.6 %

Shares of ELV stock traded up $2.37 on Thursday, hitting $413.26. 53,715 shares of the stock traded hands, compared to its average volume of 1,150,483. The firm’s 50-day moving average price is $480.88 and its two-hundred day moving average price is $515.30. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $95.84 billion, a PE ratio of 14.98, a PEG ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.99 earnings per share. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Bank of America reissued a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

About Elevance Health

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.