Elevance Health, Inc. $ELV Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in Elevance Health, Inc. (NYSE:ELV) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,011 shares of the company’s stock after buying an additional 4,405 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Elevance Health were worth $31,899,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ELV. Vanguard Group Inc. boosted its holdings in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the period. Sanders Capital LLC lifted its position in shares of Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after purchasing an additional 1,152,440 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after purchasing an additional 324,040 shares during the period. Finally, Invesco Ltd. grew its holdings in Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after purchasing an additional 24,833 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 1.9%

Shares of Elevance Health stock opened at $324.64 on Wednesday. The business has a 50-day moving average price of $330.37 and a 200 day moving average price of $339.63. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market cap of $72.15 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same quarter last year, the firm earned $8.37 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s payout ratio is presently 27.96%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELV shares. Wells Fargo & Company dropped their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Morgan Stanley lifted their target price on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Barclays reduced their price target on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Mizuho dropped their price objective on Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Elevance Health in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $397.33.

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.