70,908 Shares in Elevance Health, Inc. $ELV Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,908 shares of the company’s stock, valued at approximately $27,570,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Elevance Health in the second quarter valued at about $7,344,424,000. State Street Corp increased its stake in shares of Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after purchasing an additional 137,914 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Elevance Health by 12.0% during the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after purchasing an additional 984,976 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Elevance Health by 1.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock worth $1,619,701,000 after purchasing an additional 55,905 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Elevance Health during the 2nd quarter worth about $1,246,349,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.6%

ELV stock opened at $413.52 on Tuesday. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $450.69. The firm has a market cap of $89.34 billion, a PE ratio of 13.65, a PEG ratio of 1.98 and a beta of 0.70. The firm’s 50 day moving average price is $410.87 and its 200-day moving average price is $372.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.28 billion. During the same quarter last year, the firm earned $6.03 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that Elevance Health, Inc. will post 29.18 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $1.72 per share. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 29.34%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. UBS Group boosted their price objective on Elevance Health from $460.00 to $523.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Truist Financial boosted their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Raymond James Financial set a $450.00 target price on Elevance Health in a report on Tuesday, July 7th. Finally, Barclays raised their target price on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $456.48.

Insider Activity

In related news, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the completion of the sale, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. This trade represents a 34.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.