Teacher Retirement System of Texas Buys 2,603 Shares of Elevance Health, Inc. $ELV

Teacher Retirement System of Texas boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 158,790 shares of the company’s stock after acquiring an additional 2,603 shares during the quarter. Teacher Retirement System of Texas’ holdings in Elevance Health were worth $61,763,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after purchasing an additional 666,534 shares during the period. Orbis Allan Gray Ltd boosted its position in shares of Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after acquiring an additional 324,040 shares during the last quarter. Invesco Ltd. boosted its position in shares of Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after acquiring an additional 24,833 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Elevance Health by 1.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after acquiring an additional 29,174 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $342.45 on Monday. The stock has a market cap of $76.11 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.25 and a beta of 0.59. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The stock’s 50-day moving average is $327.09 and its 200 day moving average is $352.27.

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

Elevance Health Announces Dividend

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 paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ELV shares. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. The Goldman Sachs Group started coverage on Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. Truist Financial set a $400.00 price target on Elevance Health in a research report on Tuesday, October 14th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Thursday. Finally, Sanford C. Bernstein dropped their price target on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $397.89.

Insider Buying and Selling

In related news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

About Elevance Health

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.