China Universal Asset Management Co. Ltd. Purchases Shares of 3,106 Elevance Health, Inc. (NYSE:ELV)

China Universal Asset Management Co. Ltd. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,106 shares of the company’s stock, valued at approximately $1,146,000.

Several other institutional investors and hedge funds have also modified their holdings of ELV. Raelipskie Partnership acquired a new position in Elevance Health in the third quarter worth $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the third quarter valued at about $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth about $31,000. Crews Bank & Trust bought a new stake in Elevance Health during the 4th quarter worth about $34,000. Finally, Dunhill Financial LLC increased its position in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.9 %

ELV opened at $395.82 on Friday. The firm’s fifty day moving average is $386.50 and its two-hundred day moving average is $457.81. The firm has a market cap of $91.80 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 34.09 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.73%. Elevance Health’s payout ratio is currently 25.46%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. TD Cowen decreased their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Argus restated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a research report on Wednesday. Truist Financial decreased their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.