Elevance Health, Inc. (NYSE:ELV) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,996 shares of the company’s stock after acquiring an additional 133 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Elevance Health were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Alliance Wealth Advisors LLC raised its holdings in shares of Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Elevance Health by 0.9% during the third quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock valued at $1,096,000 after acquiring an additional 22 shares during the period. Financial Counselors Inc. raised its holdings in shares of Elevance Health by 1.0% during the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after acquiring an additional 22 shares during the period. Sugarloaf Wealth Management LLC raised its holdings in shares of Elevance Health by 8.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after acquiring an additional 22 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in shares of Elevance Health by 2.5% during the fourth quarter. Capital Investment Advisors LLC now owns 887 shares of the company’s stock valued at $418,000 after acquiring an additional 22 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ELV shares. Truist Financial restated a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Barclays increased their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company increased their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $6.65 during mid-day trading on Thursday, reaching $540.38. 493,286 shares of the stock were exchanged, compared to its average volume of 1,056,856. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $125.60 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm has a 50-day simple moving average of $510.78 and a 200 day simple moving average of $485.44.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $9.46 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

About Elevance Health

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.