Korea Investment CORP Sells 13,556 Shares of Elevance Health, Inc. (NYSE:ELV)

Korea Investment CORP trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,384 shares of the company’s stock after selling 13,556 shares during the period. Korea Investment CORP owned 0.09% of Elevance Health worth $99,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Roundview Capital LLC boosted its holdings in shares of Elevance Health by 2.9% during the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after buying an additional 52 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Elevance Health during the 1st quarter worth about $251,000. Baird Financial Group Inc. grew its stake in shares of Elevance Health by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after buying an additional 57 shares during the period. Zions Bancorporation N.A. increased its position in Elevance Health by 52.1% in the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after buying an additional 306 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Elevance Health by 102.9% during the 1st quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock worth $416,000 after buying an additional 429 shares during the period. 87.80% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE ELV traded up $4.50 on Tuesday, hitting $469.87. 234,040 shares of the stock traded hands, compared to its average volume of 1,168,312. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41. The business’s fifty day moving average is $451.18 and its two-hundred day moving average is $453.67. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $544.01. The firm has a market capitalization of $110.40 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, October 18th. The company reported $8.99 earnings per share for the quarter, topping the consensus estimate of $8.45 by $0.54. The company had revenue of $42.48 billion during the quarter, compared to analyst estimates of $42.69 billion. Elevance Health had a return on equity of 20.71% and a net margin of 3.61%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $7.53 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.07 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.26%. Elevance Health’s dividend payout ratio (DPR) is 23.24%.

Insider Activity

In other news, CAO Ronald W. Penczek sold 64 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $454.35, for a total value of $29,078.40. Following the sale, the chief accounting officer now directly owns 2,842 shares of the company’s stock, valued at approximately $1,291,262.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $547.00 price objective on shares of Elevance Health in a research note on Tuesday. TD Cowen upped their target price on shares of Elevance Health from $564.00 to $585.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. StockNews.com began coverage on Elevance Health in a research note on Thursday, October 5th. They set a “strong-buy” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $565.82.

About Elevance Health

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.