Elevance Health, Inc. (NYSE:ELV) Stock Position Decreased by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,700 shares of the company’s stock after selling 120 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Elevance Health were worth $921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Accretive Wealth Partners LLC bought a new position in Elevance Health during the 4th quarter worth $209,000. D.A. Davidson & CO. boosted its stake in Elevance Health by 1.2% during the 4th quarter. D.A. Davidson & CO. now owns 5,657 shares of the company’s stock valued at $2,668,000 after purchasing an additional 69 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Elevance Health by 56.9% during the fourth quarter. CreativeOne Wealth LLC now owns 786 shares of the company’s stock valued at $371,000 after buying an additional 285 shares during the last quarter. King Luther Capital Management Corp bought a new position in Elevance Health in the 4th quarter worth approximately $316,000. Finally, US Bancorp DE raised its stake in Elevance Health by 4.1% during the 4th quarter. US Bancorp DE now owns 60,461 shares of the company’s stock valued at $28,512,000 after acquiring an additional 2,396 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last three months. 0.35% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

NYSE:ELV opened at $539.79 on Friday. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $536.19 and a 200-day moving average of $529.08. The firm has a market cap of $125.46 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $9.04 earnings per share. Analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Morgan Stanley began coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target on the stock. Finally, Stephens restated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $604.29.

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.