Elevance Health, Inc. $ELV Shares Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its position in Elevance Health, Inc. (NYSE:ELV) by 31.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,688 shares of the company’s stock after buying an additional 6,199 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Elevance Health were worth $8,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ELV. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Elevance Health in the first quarter valued at about $303,000. SCS Capital Management LLC purchased a new position in Elevance Health during the first quarter worth about $347,000. SageView Advisory Group LLC lifted its position in Elevance Health by 7.3% in the first quarter. SageView Advisory Group LLC now owns 718 shares of the company’s stock valued at $312,000 after purchasing an additional 49 shares during the period. Glenview Trust co boosted its holdings in Elevance Health by 10.2% in the 1st quarter. Glenview Trust co now owns 1,144 shares of the company’s stock valued at $498,000 after purchasing an additional 106 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after purchasing an additional 982 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.5%

ELV opened at $372.80 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $82.85 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.93 and a beta of 0.51. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The business’s fifty day moving average is $338.20 and its two-hundred day moving average is $328.63.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the company posted $8.37 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s dividend payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wolfe Research set a $425.00 target price on Elevance Health and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company upped their price objective on Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group began coverage on Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price for the company. Robert W. Baird boosted their target price on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Thirteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $400.85.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.