California Public Employees Retirement System Has $224.64 Million Stake in Elevance Health, Inc. (NYSE:ELV)

California Public Employees Retirement System lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 23.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 608,945 shares of the company’s stock after selling 184,970 shares during the period. California Public Employees Retirement System owned about 0.26% of Elevance Health worth $224,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter valued at $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at about $26,000. Dunhill Financial LLC boosted its position in shares of 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 purchasing an additional 26 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Elevance Health in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research note on Friday. Finally, Wells Fargo & Company reduced their price objective 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. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Trading Down 0.0 %

NYSE:ELV opened at $431.84 on Monday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a 50-day moving average price of $404.45 and a two-hundred day moving average price of $420.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its quarterly 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 return on equity of 18.28% and a net margin of 3.38%. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the 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 owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

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.