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

Mirae Asset Global Investments Co. Ltd. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,882 shares of the company’s stock after purchasing an additional 2,176 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Elevance Health were worth $18,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Convergence Financial LLC increased its holdings in shares of Elevance Health by 158.2% in the third quarter. Convergence Financial LLC now owns 1,100 shares of the company’s stock valued at $572,000 after purchasing an additional 674 shares during the last quarter. Cromwell Holdings LLC increased its holdings in shares of Elevance Health by 7.0% in the third quarter. Cromwell Holdings LLC now owns 720 shares of the company’s stock valued at $374,000 after purchasing an additional 47 shares during the last quarter. Joel Isaacson & Co. LLC grew its position in Elevance Health by 9.0% in the third quarter. Joel Isaacson & Co. LLC now owns 1,243 shares of the company’s stock worth $646,000 after acquiring an additional 103 shares during the period. Trueblood Wealth Management LLC grew its position in Elevance Health by 4.3% in the third quarter. Trueblood Wealth Management LLC now owns 2,577 shares of the company’s stock worth $1,340,000 after acquiring an additional 106 shares during the period. Finally, BayBridge Capital Group LLC grew its position in Elevance Health by 6.4% in the third quarter. BayBridge Capital Group LLC now owns 881 shares of the company’s stock worth $458,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 1.5 %

Shares of NYSE ELV opened at $425.27 on Friday. The stock has a market cap of $98.84 billion, a P/E ratio of 16.07, a PEG ratio of 1.08 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26. The business’s fifty day simple moving average is $515.15 and its 200-day simple moving average is $524.62.

Elevance Health (NYSE:ELV) last announced 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 analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.99 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated 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 sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ELV. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Cantor Fitzgerald lowered their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Finally, Morgan Stanley lowered their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $551.07.

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.