Elevance Health, Inc. (NYSE:ELV) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,718 shares of the company’s stock after selling 2,164 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Elevance Health were worth $12,108,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter worth $26,000. PSI Advisors LLC purchased a new stake in Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank acquired a new position in shares of Elevance Health during the 3rd quarter worth about $31,000. Crews Bank & Trust purchased a new position in shares of Elevance Health in the 4th quarter valued at about $34,000. Finally, Dunhill Financial LLC raised its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. TD Cowen cut their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

Shares of NYSE ELV opened at $389.94 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a market cap of $90.44 billion, a PE ratio of 15.23, a P/E/G ratio of 1.19 and a beta of 0.83. The stock has a fifty day moving average price of $386.45 and a 200 day moving average price of $454.94. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts forecast that Elevance Health, Inc. will post 34.07 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is 26.71%.

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.