Meiji Yasuda Asset Management Co Ltd. Buys Shares of 5,395 Elevance Health, Inc. $ELV

Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 5,395 shares of the company’s stock, valued at approximately $2,086,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WealthCollab LLC increased its position in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health during the second quarter worth about $28,000. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new stake in Elevance Health in the fourth quarter valued at about $32,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health during the first quarter valued at approximately $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.5%

NYSE:ELV opened at $402.62 on Tuesday. The stock has a market cap of $87.32 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The business has a fifty day moving average of $394.79 and a 200-day moving average of $360.49.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $8.84 earnings per share. Equities analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is 30.58%.

Analysts Set New Price Targets

Several research analysts have recently commented on ELV shares. JPMorgan Chase & Co. lifted their target price on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Guggenheim lifted their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Barclays lowered their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Finally, Leerink Partners lifted their price target on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Company Profile

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.