AIA Group Ltd Acquires 642 Shares of Elevance Health, Inc. (NYSE:ELV)

AIA Group Ltd increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 14.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,204 shares of the company’s stock after purchasing an additional 642 shares during the period. AIA Group Ltd’s holdings in Elevance Health were worth $2,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. raised its position 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 acquiring an additional 190,118 shares during the last quarter. Capital International Investors increased its position in Elevance Health by 3.7% during the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after purchasing an additional 123,802 shares during the period. Legal & General Group Plc raised its holdings in Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after purchasing an additional 64,376 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 15.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.1 %

Shares of ELV stock opened at $429.22 on Friday. The business has a 50-day moving average price of $494.37 and a two-hundred day moving average price of $519.32. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $99.54 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the firm earned $8.99 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a research note on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One equities 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Activity

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