Mitsubishi UFJ Asset Management Co. Ltd. Purchases 21,124 Shares of Elevance Health, Inc. $ELV

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Elevance Health, Inc. (NYSE:ELV) by 4.9% in the third quarter, HoldingsChannel reports. The fund owned 455,011 shares of the company’s stock after purchasing an additional 21,124 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Elevance Health were worth $147,023,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ELV. AlphaCore Capital LLC lifted its holdings in shares of Elevance Health by 39.5% in the 3rd quarter. AlphaCore Capital LLC now owns 1,071 shares of the company’s stock worth $346,000 after purchasing an additional 303 shares in the last quarter. Intech Investment Management LLC increased its stake in Elevance Health by 17.4% during the 3rd quarter. Intech Investment Management LLC now owns 32,630 shares of the company’s stock valued at $10,543,000 after purchasing an additional 4,840 shares in the last quarter. English Capital Management LLC acquired a new position in Elevance Health during the third quarter worth $2,482,000. MAI Capital Management lifted its stake in shares of Elevance Health by 342.3% in the third quarter. MAI Capital Management now owns 33,520 shares of the company’s stock valued at $10,831,000 after buying an additional 25,941 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its stake in shares of Elevance Health by 18.5% in the third quarter. RWA Wealth Partners LLC now owns 47,737 shares of the company’s stock valued at $15,425,000 after buying an additional 7,438 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 2.3%

NYSE:ELV opened at $322.94 on Friday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm has a 50-day moving average price of $350.62 and a two-hundred day moving average price of $335.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market cap of $71.28 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is 27.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group decreased their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Guggenheim cut their price target on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Wolfe Research set a $425.00 price objective on Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Wells Fargo & Company lowered their price objective on Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Finally, Leerink Partners lifted their target price on Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $390.55.

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.