Mufg Securities Americas Inc. Buys Shares of 3,424 Elevance Health, Inc. (NYSE:ELV)

Mufg Securities Americas Inc. acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,424 shares of the company’s stock, valued at approximately $1,263,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after buying an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock valued at $3,917,004,000 after purchasing an additional 464,137 shares in the last quarter. Wellington Management Group LLP lifted its stake in Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Elevance Health by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock worth $1,826,447,000 after purchasing an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in shares of Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after buying an additional 76,896 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 0.2%

ELV stock opened at $376.04 on Thursday. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a market capitalization of $84.96 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business’s 50 day moving average price is $423.27 and its two-hundred day moving average price is $403.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.82%. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 in the last 90 days. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ELV shares. Truist Financial upped their target price on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Argus set a $465.00 price target on shares of Elevance Health in a research note on Friday, April 25th. Baird R W cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Barclays increased their target price on Elevance Health from $512.00 to $522.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $510.38.

Elevance Health Profile

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.