38,926 Shares in Elevance Health, Inc. $ELV Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the third quarter, HoldingsChannel.com reports. The firm purchased 38,926 shares of the company’s stock, valued at approximately $15,287,000.

Several other hedge funds also recently bought and sold shares of ELV. Provenance Wealth Advisors LLC acquired a new position in shares of Elevance Health in the third quarter valued at about $105,000. Gerber Kawasaki Wealth & Investment Management grew its stake in Elevance Health by 24.7% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 895 shares of the company’s stock valued at $348,000 after acquiring an additional 177 shares during the period. Hurlow Wealth Management Group Inc. raised its position in shares of Elevance Health by 3.1% during the 3rd quarter. Hurlow Wealth Management Group Inc. now owns 1,424 shares of the company’s stock worth $554,000 after purchasing an additional 43 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Elevance Health in the third quarter valued at approximately $27,570,000. Finally, ProShare Advisors LLC grew its holdings in shares of Elevance Health by 1.6% during the third quarter. ProShare Advisors LLC now owns 35,106 shares of the company’s stock worth $13,650,000 after buying an additional 546 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ELV. Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their price objective on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday, October 22nd. Guggenheim increased their price objective on Elevance Health from $460.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Robert W. Baird raised their price objective on Elevance Health from $393.00 to $406.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Finally, Truist Financial lifted their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $456.48.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the company’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares in the company, valued at approximately $8,766,949.47. This represents a 34.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV opened at $434.44 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $411.80 and a two-hundred day moving average price of $373.00. The firm has a market cap of $93.86 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $450.69.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The business had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.03 EPS. Sell-side analysts expect that Elevance Health, Inc. will post 29.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio is presently 29.34%.

Elevance Health Company Profile

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.