Teacher Retirement System of Texas Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Teacher Retirement System of Texas trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 30.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,866 shares of the company’s stock after selling 37,135 shares during the quarter. Teacher Retirement System of Texas’ holdings in Elevance Health were worth $31,676,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ELV. Raelipskie Partnership bought a new stake in Elevance Health during the 3rd quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in Elevance Health during the 4th quarter valued at approximately $29,000. Crews Bank & Trust bought a new stake in Elevance Health during the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC boosted its position in Elevance Health by 57.8% during 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.

Wall Street Analysts Forecast Growth

ELV has been the topic of several research reports. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Insider Buying and Selling at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

NYSE ELV opened at $434.44 on Friday. The stock has a market capitalization of $98.77 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.18 and a beta of 0.86. 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. The business’s fifty day moving average price is $399.60 and its 200-day moving average price is $427.17.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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 earnings per share for the current year.

Elevance Health Increases Dividend

The firm 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 represents a $6.84 annualized dividend and a yield of 1.57%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

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.