SBI Securities Co. Ltd. Acquires Shares of 2,496 Elevance Health, Inc. (NYSE:ELV)

SBI Securities Co. Ltd. bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,496 shares of the company’s stock, valued at approximately $921,000.

Other institutional investors have also recently made changes to their positions in the company. Raelipskie Partnership purchased a new stake in Elevance Health in the third quarter worth $26,000. Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter valued at $34,000. Dunhill Financial LLC grew its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Peterson Financial Group Inc. purchased a new position in Elevance Health during the 3rd quarter valued at about $44,000. Finally, Financial Perspectives Inc bought a new stake in Elevance Health during the fourth quarter worth about $50,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Argus reiterated a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Down 0.3 %

Shares of ELV stock opened at $395.63 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $89.95 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a 50 day simple moving average of $388.27 and a two-hundred day simple moving average of $437.33.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

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.