State of New Jersey Common Pension Fund D Has $29.84 Million Stock Holdings in Elevance Health, Inc. $ELV

State of New Jersey Common Pension Fund D cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,711 shares of the company’s stock after selling 1,502 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Elevance Health were worth $29,838,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GLOBALT Investments LLC GA grew its position in Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after buying an additional 24 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after purchasing an additional 27 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after purchasing an additional 27 shares in the last quarter. Aspen Investment Management Inc boosted its holdings in shares of Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after purchasing an additional 27 shares in the last quarter. Finally, Prudent Man Advisors LLC boosted its holdings in shares of Elevance Health by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock valued at $547,000 after purchasing an additional 28 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Elevance Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price on the stock. Argus reaffirmed a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Wells Fargo & Company reduced their target price on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a report on Thursday. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $397.89.

Elevance Health Trading Down 1.1%

NYSE ELV opened at $342.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a market cap of $76.11 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.26 and a beta of 0.59. The business’s fifty day moving average is $327.09 and its 200 day moving average is $353.39.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter last year, the business posted $8.37 EPS. Elevance Health’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

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.