National Pension Service Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

National Pension Service boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 405,257 shares of the company’s stock after purchasing an additional 8,209 shares during the period. National Pension Service owned about 0.17% of Elevance Health worth $191,103,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in Elevance Health during the third quarter worth about $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC grew its holdings in Elevance Health by 63.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after purchasing an additional 29 shares during the period. ORG Partners LLC purchased a new stake in Elevance Health in the fourth quarter worth $40,000. Finally, Orion Capital Management LLC bought a new stake in shares of Elevance Health in the third quarter valued at $46,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ELV shares. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group upped their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy 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 $587.42.

Elevance Health Price Performance

Elevance Health stock traded up $5.16 during mid-day trading on Thursday, hitting $538.51. 144,338 shares of the company traded hands, compared to its average volume of 1,033,043. The stock has a fifty day moving average price of $514.57 and a 200-day moving average price of $490.26. The stock has a market cap of $125.16 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the business earned $9.46 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is owned by insiders.

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.