MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in Elevance Health, Inc. (NYSE:ELV)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,815 shares of the company’s stock after acquiring an additional 2,991 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Elevance Health were worth $14,688,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $389.42 on Friday. 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, Inc. has a 1 year low of $357.45 and a 1 year high of $567.26. The firm has a market cap of $87.98 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The stock has a 50-day simple moving average of $422.87 and a 200-day simple moving average of $403.76.

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

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio is currently 26.69%.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Guggenheim reiterated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird restated a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Barclays upped their price target on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Finally, Mizuho upped their price target on Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.