Taikang Asset Management Hong Kong Co Ltd Increases Stock Position in Elevance Health, Inc. $ELV

Taikang Asset Management Hong Kong Co Ltd increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,995 shares of the company’s stock after purchasing an additional 1,022 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Elevance Health were worth $6,610,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. WPG Advisers LLC purchased a new stake in Elevance Health during the first quarter worth $29,000. Vermillion & White Wealth Management Group LLC raised its position in shares of Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after acquiring an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Elevance Health during the 2nd quarter worth $32,000. Glass Jacobson Investment Advisors llc lifted its stake in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in Elevance Health during the first quarter valued at about $40,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on ELV. Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. The Goldman Sachs Group began coverage on shares of Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target on the stock. Barclays reduced their price objective on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Bank of America increased their target price on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Wall Street Zen upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $398.44.

Elevance Health Trading Down 2.5%

Shares of Elevance Health stock opened at $329.86 on Tuesday. The firm’s 50 day simple moving average is $333.41 and its two-hundred day simple moving average is $334.93. The firm has a market capitalization of $73.31 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.37 earnings per share. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. Elevance Health’s dividend payout ratio is currently 27.96%.

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.