Nomura Asset Management Co. Ltd. Cuts Holdings in Elevance Health, Inc. (NYSE:ELV)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,934 shares of the company’s stock after selling 56 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Elevance Health were worth $27,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the 3rd quarter worth $26,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the fourth quarter worth about $26,000. OFI Invest Asset Management bought a new position in Elevance Health in the fourth quarter worth about $29,000. Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at about $30,000. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter valued at about $34,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $431.84 on Friday. The firm has a market capitalization of $98.18 billion, a P/E ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The stock has a 50-day simple moving average of $404.45 and a two-hundred day simple moving average of $421.28. 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 fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. Elevance Health’s payout ratio is presently 26.71%.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Finally, Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Company 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.