Resona Asset Management Co. Ltd. Trims Stake in Elevance Health, Inc. $ELV

Resona Asset Management Co. Ltd. lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,948 shares of the company’s stock after selling 4,489 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Elevance Health were worth $23,592,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ELV. Kemnay Advisory Services Inc. acquired a new position in Elevance Health during the 4th quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health during the 4th quarter worth $32,000. ORG Partners LLC boosted its position in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health in the fourth quarter valued at approximately $38,000. Finally, Dorato Capital Management acquired a new position in shares of Elevance Health in the 4th quarter valued at $41,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Trading Up 0.9%

Shares of ELV opened at $419.89 on Friday. The stock has a fifty day moving average of $396.36 and a two-hundred day moving average of $353.04. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $427.64. The company has a market capitalization of $91.18 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.86 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were given a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Guggenheim upped their target price on Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research report on Friday, April 24th. The Goldman Sachs Group boosted their price target on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Cantor Fitzgerald increased their target price on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Sanford C. Bernstein raised their price target on Elevance Health from $424.00 to $482.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $425.95.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.