Elevance Health, Inc. $ELV Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 66,477 shares of the company’s stock after buying an additional 4,077 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $25,848,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ELV. Field & Main Bank lifted its holdings in shares of Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after purchasing an additional 25 shares in the last quarter. Simplicity Wealth LLC grew its holdings in shares of Elevance Health by 1.3% during the third quarter. Simplicity Wealth LLC now owns 1,939 shares of the company’s stock valued at $754,000 after buying an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC grew its holdings in shares of Elevance Health by 1.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock valued at $805,000 after buying an additional 26 shares in the last quarter. Mather Group LLC. raised its position in Elevance Health by 3.5% during the third quarter. Mather Group LLC. now owns 766 shares of the company’s stock valued at $298,000 after buying an additional 26 shares during the period. Finally, 55 North Private Wealth LLC raised its position in Elevance Health by 4.5% during the third quarter. 55 North Private Wealth LLC now owns 598 shares of the company’s stock valued at $233,000 after buying an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Leerink Partners increased their price objective on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Royal Bank Of Canada lifted their target price on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday, October 22nd. Wall Street Zen upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Guggenheim upped their target price on Elevance Health from $460.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, Barclays increased their price target on shares of Elevance Health from $469.00 to $472.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $456.48.

Elevance Health Trading Up 2.7%

Elevance Health stock opened at $429.48 on Wednesday. The company’s fifty day simple moving average is $414.10 and its 200-day simple moving average is $374.11. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $450.69. The stock has a market cap of $92.79 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.00 and a beta of 0.63.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. During the same period in the prior year, the business posted $6.03 earnings per share. Elevance Health’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be paid a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. Elevance Health’s payout ratio is 29.34%.

Insider Activity

In other Elevance Health news, EVP Ratnakar Lavu sold 1,300 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $440.00, for a total value of $572,000.00. Following the transaction, the executive vice president directly owned 14,849 shares of the company’s stock, valued at $6,533,560. This represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the sale, the chief financial officer directly owned 19,919 shares of the company’s stock, valued at $8,766,949.47. This trade represents a 34.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.34% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.