Mitsubishi UFJ Asset Management Co. Ltd. Purchases 19,539 Shares of Elevance Health, Inc. $ELV

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,887 shares of the company’s stock after buying an additional 19,539 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Elevance Health worth $168,765,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GLOBALT Investments LLC GA raised its position in shares of Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Hemington Wealth Management boosted its position in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after purchasing an additional 27 shares in the last quarter. Aspen Investment Management Inc grew its stake in Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after purchasing an additional 27 shares during the period. Prudent Man Advisors LLC increased its holdings in Elevance Health by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock worth $547,000 after purchasing an additional 28 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in Elevance Health by 5.3% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock worth $261,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.0%

ELV opened at $317.51 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market capitalization of $70.56 billion, a PE ratio of 12.98, a P/E/G ratio of 1.23 and a beta of 0.60. The company’s 50-day moving average is $329.41 and its 200 day moving average is $344.86.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.37 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. Sanford C. Bernstein dropped their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday. Robert W. Baird cut their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, TD Cowen increased their price target on Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $397.33.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Profile

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.