SBI Securities Co. Ltd. Buys New Shares in Elevance Health, Inc. (NYSE:ELV)

SBI Securities Co. Ltd. purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,496 shares of the company’s stock, valued at approximately $921,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in Elevance Health by 26.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,523 shares of the company’s stock worth $792,000 after purchasing an additional 317 shares in the last quarter. Optas LLC grew its holdings in Elevance Health by 10.6% during the 3rd quarter. Optas LLC now owns 450 shares of the company’s stock valued at $234,000 after buying an additional 43 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Elevance Health by 4.1% during the third quarter. Van ECK Associates Corp now owns 12,782 shares of the company’s stock valued at $6,647,000 after buying an additional 507 shares during the last quarter. BSW Wealth Partners purchased a new position in shares of Elevance Health in the third quarter worth $259,000. Finally, Forum Financial Management LP boosted its position in shares of Elevance Health by 4.3% during the third quarter. Forum Financial Management LP now owns 2,826 shares of the company’s stock worth $1,470,000 after acquiring an additional 117 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research analyst reports. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Argus reaffirmed a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Barclays raised their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three research 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 company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Performance

Elevance Health stock opened at $395.63 on Tuesday. 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 firm has a market capitalization of $89.95 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company’s 50-day moving average is $388.27 and its 200 day moving average is $437.33.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business 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 is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

Elevance Health Company 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.