New York State Common Retirement Fund Has $189.23 Million Stake in Elevance Health, Inc. (NYSE:ELV)

New York State Common Retirement Fund lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 401,274 shares of the company’s stock after selling 24,637 shares during the period. New York State Common Retirement Fund owned approximately 0.17% of Elevance Health worth $189,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ELV. OFI Invest Asset Management bought a new position in shares of Elevance Health in the third quarter valued at about $25,000. ORG Partners LLC bought a new position in shares of Elevance Health in the 4th quarter valued at $40,000. Orion Capital Management LLC acquired a new stake in shares of Elevance Health during the third quarter valued at about $46,000. Milestone Investment Advisors LLC acquired a new position in Elevance Health in the 3rd quarter valued at approximately $51,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter worth $56,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

ELV stock traded up $0.75 during trading on Monday, reaching $532.17. The company’s stock had a trading volume of 1,525,122 shares, compared to its average volume of 1,069,577. The company’s fifty day moving average is $509.68 and its 200-day moving average is $484.51. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $539.11. The company has a market capitalization of $123.69 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the firm earned $9.46 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELV shares. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays upped their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, UBS Group raised their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

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.