OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 697 Elevance Health, Inc. (NYSE:ELV)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, Holdings Channel reports. The institutional investor bought 697 shares of the company’s stock, valued at approximately $259,000.

Other large investors have also recently bought and sold shares of the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at about $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $29,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $34,000. Finally, Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.9 %

NYSE ELV opened at $434.44 on Friday. The company has a market cap of $98.77 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business has a 50 day moving average price of $399.60 and a 200-day moving average price of $427.17. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.57%. Elevance Health’s payout ratio is presently 26.71%.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business’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 of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELV. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday. Finally, Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $519.81.

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.