Taikang Asset Management Hong Kong Co Ltd Boosts Stock Holdings in Elevance Health, Inc. $ELV

Taikang Asset Management Hong Kong Co Ltd grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,280 shares of the company’s stock after purchasing an additional 1,647 shares during the quarter. Elevance Health makes up about 1.1% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 22nd biggest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in Elevance Health were worth $11,316,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ELV. Sound View Wealth Advisors Group LLC increased its holdings in Elevance Health by 3.0% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after acquiring an additional 29 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its position in Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after acquiring an additional 29 shares during the period. Perigon Wealth Management LLC raised its position in Elevance Health by 2.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after acquiring an additional 29 shares during the period. Savvy Advisors Inc. raised its position in Elevance Health by 3.2% during the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock worth $343,000 after acquiring an additional 30 shares during the period. Finally, CoreCap Advisors LLC raised its position in Elevance Health by 6.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the company’s stock worth $195,000 after acquiring an additional 32 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Elevance Health stock opened at $397.53 on Wednesday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.98. The firm has a market capitalization of $86.33 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.27 and a beta of 0.67. The company has a fifty day simple moving average of $370.56 and a 200-day simple moving average of $345.84. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. During the same quarter in the prior year, the firm earned $11.97 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 26.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $1.72 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is presently 29.26%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ELV. Morgan Stanley upped their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. The Goldman Sachs Group upped their price objective on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Bank of America upped their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein upped their price objective on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $416.11.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.