AIA Group Ltd Has $2.57 Million Stake in Elevance Health, Inc. (NYSE:ELV)

AIA Group Ltd trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,445 shares of the company’s stock after selling 2,023 shares during the period. AIA Group Ltd’s holdings in Elevance Health were worth $2,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Elevance Health during the third quarter worth about $25,000. Fortis Capital Advisors LLC acquired a new position in shares of Elevance Health during the fourth quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Elevance Health during the third quarter worth about $30,000. TD Capital Management LLC acquired a new position in shares of Elevance Health during the fourth quarter worth about $30,000. Finally, Tyler Stone Wealth Management acquired a new position in shares of Elevance Health during the second quarter worth about $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wells Fargo & Company reduced their price target on Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays increased their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $575.00.

Elevance Health Stock Performance

ELV opened at $525.19 on Friday. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The stock has a market cap of $122.21 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 1.12 and a beta of 0.78. The business has a 50 day moving average of $508.63 and a 200-day moving average of $482.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period last year, the firm posted $9.46 earnings per share. The business’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Elevance Health, Inc. will post 37.03 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.63 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, March 7th. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by insiders.

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.