Elevance Health, Inc. (NYSE:ELV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 327,030 shares of the company’s stock after selling 1,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Elevance Health were worth $120,641,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ELV. Northwest Investment Counselors LLC acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $55,000. Waterway Wealth Management LLC lifted its holdings in Elevance Health by 18.2% during the 3rd quarter. Waterway Wealth Management LLC now owns 538 shares of the company’s stock worth $280,000 after buying an additional 83 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in Elevance Health by 15.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 29,137 shares of the company’s stock worth $15,151,000 after buying an additional 3,893 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Elevance Health by 5.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,665 shares of the company’s stock worth $3,466,000 after buying an additional 337 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth approximately $31,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 1.7 %

NYSE ELV opened at $382.46 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm’s fifty day moving average price is $384.81 and its 200 day moving average price is $446.05. The company has a market capitalization of $88.70 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, sell-side analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ELV shares. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

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.