Sompo Asset Management Co. Ltd. Acquires 130 Shares of Elevance Health, Inc. (NYSE:ELV)

Sompo Asset Management Co. Ltd. increased its stake in Elevance Health, Inc. (NYSE:ELV) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,830 shares of the company’s stock after acquiring an additional 130 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Elevance Health were worth $952,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC increased its position in shares of Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after acquiring an additional 523,910 shares during the last quarter. Maj Invest Holding A S purchased a new position in shares of Elevance Health during the 2nd quarter worth about $173,753,000. Finally, First Eagle Investment Management LLC grew its holdings in Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after purchasing an additional 275,708 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 0.3 %

Shares of NYSE:ELV opened at $402.55 on Friday. The company has a market capitalization of $93.36 billion, a PE ratio of 14.68, a P/E/G ratio of 1.20 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $391.02 and a 12-month high of $567.26. The business’s fifty day simple moving average is $460.70 and its 200-day simple moving average is $509.01.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $8.99 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ELV shares. Morgan Stanley dropped their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Barclays decreased their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Finally, UBS Group decreased their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $539.20.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

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.