Tokio Marine Asset Management Co. Ltd. Raises Holdings in Elevance Health, Inc. (NYSE:ELV)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,996 shares of the company’s stock after acquiring an additional 133 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Elevance Health were worth $2,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Alliance Wealth Advisors LLC raised its holdings in Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after acquiring an additional 22 shares during the last quarter. Financial Counselors Inc. raised its holdings in shares of Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after acquiring an additional 22 shares during the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after acquiring an additional 22 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in shares of Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after acquiring an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ELV. Mizuho increased their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday. Barclays upped their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group upped their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Stock Up 1.2 %

Elevance Health stock traded up $6.65 during midday trading on Thursday, reaching $540.38. The company’s stock had a trading volume of 493,286 shares, compared to its average volume of 1,056,856. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $125.60 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.18 and a beta of 0.78. The business has a 50-day simple moving average of $510.78 and a 200-day simple moving average of $485.44.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period last year, the firm earned $9.46 earnings per share. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. 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 Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

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.