Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 0.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,453 shares of the company’s stock after purchasing an additional 27 shares during the period. Arizona State Retirement System’s holdings in Elevance Health were worth $36,550,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ELV. Bank & Trust Co acquired a new stake in shares of Elevance Health in the second quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the 2nd quarter worth approximately $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the first quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at approximately $28,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Elevance Health in the first quarter valued at $32,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

ELV opened at $544.47 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $533.77 and its 200-day moving average is $526.28. The stock has a market cap of $126.54 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter in the previous year, the business earned $9.04 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.20%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analyst Ratings Changes

ELV has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research note on Monday, August 19th. TD Cowen reduced their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Royal Bank of Canada upped their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Truist Financial raised their price target on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $604.29.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 over the last quarter. 0.35% of the stock is currently owned by company insiders.

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.