Mitsubishi UFJ Trust & Banking Corp Grows Stock Holdings in Elevance Health, Inc. $ELV

Mitsubishi UFJ Trust & Banking Corp grew its position in Elevance Health, Inc. (NYSE:ELV) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 317,054 shares of the company’s stock after buying an additional 3,268 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Elevance Health were worth $123,321,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Private Wealth Management Group LLC boosted its stake in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. WPG Advisers LLC acquired a new position in shares of Elevance Health during the first quarter worth $29,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Elevance Health during the 2nd quarter valued at $32,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of Elevance Health in the 1st quarter worth $40,000. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ELV shares. Sanford C. Bernstein reduced their target price on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Guggenheim upped their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Truist Financial set a $400.00 price target on shares of Elevance Health in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $397.33.

Elevance Health Price Performance

Shares of NYSE ELV opened at $315.06 on Wednesday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $70.02 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.23 and a beta of 0.60. The business’s 50 day moving average price is $328.95 and its 200 day moving average price is $342.64.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.37 EPS. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

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.