Nomura Asset Management Co. Ltd. Sells 56 Shares of Elevance Health, Inc. (NYSE:ELV)

Nomura Asset Management Co. Ltd. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,934 shares of the company’s stock after selling 56 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Elevance Health were worth $27,643,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raelipskie Partnership bought a new position in shares of Elevance Health during the third quarter worth $26,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter valued at about $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at about $30,000. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health in the fourth quarter worth about $34,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Elevance Health Stock Down 0.0 %

Shares of NYSE:ELV opened at $431.84 on Friday. The firm has a market capitalization of $98.18 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The business has a 50 day simple moving average of $404.45 and a two-hundred day simple moving average of $421.28. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s dividend payout ratio is presently 26.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a report on Monday, March 17th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Company 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.