Resona Asset Management Co. Ltd. Decreases Stock Position in Elevance Health, Inc. $ELV

Resona Asset Management Co. Ltd. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,948 shares of the company’s stock after selling 4,489 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Elevance Health were worth $23,592,000 at the end of the most recent quarter.

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

Elevance Health Stock Up 0.9%

Elevance Health stock opened at $419.89 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $427.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $91.18 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 2.36 and a beta of 0.67. The firm has a fifty day moving average price of $396.36 and a two-hundred day moving average price of $353.04.

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, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same quarter last year, the firm posted $11.97 EPS. The company’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts forecast that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Guggenheim lifted their price target on Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Citigroup upgraded shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Cantor Fitzgerald increased their price objective on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.95.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.