New York State Common Retirement Fund Has $189.23 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

New York State Common Retirement Fund lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 401,274 shares of the company’s stock after selling 24,637 shares during the quarter. New York State Common Retirement Fund’s holdings in Elevance Health were worth $189,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. DAVENPORT & Co LLC raised its position in Elevance Health by 0.9% during the third quarter. DAVENPORT & Co LLC now owns 250,073 shares of the company’s stock valued at $109,581,000 after purchasing an additional 2,132 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its stake in Elevance Health by 0.3% in the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 27,465 shares of the company’s stock valued at $11,959,000 after buying an additional 69 shares in the last quarter. Avior Wealth Management LLC grew its position in Elevance Health by 12.4% in the third quarter. Avior Wealth Management LLC now owns 607 shares of the company’s stock valued at $264,000 after acquiring an additional 67 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in Elevance Health during the third quarter worth about $333,000. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Elevance Health by 2.9% in the third quarter. GHP Investment Advisors Inc. now owns 13,744 shares of the company’s stock worth $6,241,000 after acquiring an additional 392 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.1 %

Shares of Elevance Health stock traded up $0.75 during trading on Monday, reaching $532.17. 1,525,122 shares of the company traded hands, compared to its average volume of 1,069,577. The firm has a market capitalization of $123.69 billion, a PE ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $539.11. The company has a 50 day moving average price of $509.68 and a 200-day moving average price of $484.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.46 earnings per share. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is 24.64%.

Analyst Ratings Changes

A number of research firms recently issued reports on ELV. Jefferies Financial Group upped their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a report on Friday. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by 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.