Teacher Retirement System of Texas Cuts Position in Elevance Health, Inc. $ELV

Teacher Retirement System of Texas lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 80.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,701 shares of the company’s stock after selling 127,089 shares during the quarter. Teacher Retirement System of Texas’ holdings in Elevance Health were worth $10,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Vermillion & White Wealth Management Group LLC boosted its position in shares of Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Elevance Health in the 2nd quarter valued at $32,000. Motco lifted its position in Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after buying an additional 77 shares during the period. True Wealth Design LLC lifted its holdings in shares of Elevance Health by 431.8% during the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after acquiring an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in shares of Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELV. Bank of America boosted their target price on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Guggenheim upped their price objective on Elevance Health from $398.00 to $414.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird raised their price target 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. Sanford C. Bernstein reissued an “outperform” rating and issued a $431.00 price target on shares of Elevance Health in a report on Tuesday, January 6th. Finally, Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Twelve equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $370.77 on Monday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The stock has a market cap of $82.40 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.91 and a beta of 0.51. The stock’s 50 day moving average price is $349.17 and its 200 day moving average price is $328.67. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

About Elevance Health

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.