New York Life Investment Management LLC Has $19.52 Million Position in Elevance Health, Inc. (NYSE:ELV)

New York Life Investment Management LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,021 shares of the company’s stock after selling 46 shares during the period. New York Life Investment Management LLC’s holdings in Elevance Health were worth $19,518,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its position in Elevance Health by 22.2% in the fourth quarter. Fisher Asset Management LLC now owns 909 shares of the company’s stock worth $429,000 after purchasing an additional 165 shares during the period. Accretive Wealth Partners LLC acquired a new stake in Elevance Health during the fourth quarter valued at approximately $209,000. Wealthspire Advisors LLC raised its stake in Elevance Health by 7.0% during the fourth quarter. Wealthspire Advisors LLC now owns 729 shares of the company’s stock worth $344,000 after acquiring an additional 48 shares in the last quarter. Montag A & Associates Inc. grew its stake in Elevance Health by 24.4% during the fourth quarter. Montag A & Associates Inc. now owns 765 shares of the company’s stock worth $361,000 after buying an additional 150 shares during the last quarter. Finally, Van Hulzen Asset Management LLC increased its holdings in shares of Elevance Health by 40.3% during the fourth quarter. Van Hulzen Asset Management LLC now owns 696 shares of the company’s stock worth $328,000 after buying an additional 200 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $542.60 on Friday. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The company has a market cap of $126.11 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84. The firm has a 50-day moving average of $533.79 and a 200-day moving average of $526.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

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

Elevance Health Announces Dividend

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

Insider Activity

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the company’s 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 completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock valued at $17,588,116. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ELV. Truist Financial upped their target price 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. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Monday, August 19th. Stephens reaffirmed an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Thursday. Wells Fargo & Company cut their price objective on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their target price on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Buy” and a consensus target price of $604.29.

Elevance Health Company 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.