Illinois Municipal Retirement Fund Purchases 5,401 Shares of Elevance Health, Inc. $ELV

Illinois Municipal Retirement Fund increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,003 shares of the company’s stock after acquiring an additional 5,401 shares during the period. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $23,339,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. BOK Financial Private Wealth Inc. bought a new position in Elevance Health in the second quarter valued at about $32,000. Fountainhead AM LLC bought a new position in Elevance Health in the second quarter valued at approximately $242,000. ProShare Advisors LLC lifted its holdings in shares of Elevance Health by 9.4% in the second quarter. ProShare Advisors LLC now owns 40,228 shares of the company’s stock valued at $15,647,000 after purchasing an additional 3,455 shares in the last quarter. Roberts Glore & Co. Inc. IL boosted its position in Elevance Health by 20.8% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 2,809 shares of the company’s stock worth $1,093,000 after acquiring an additional 484 shares during the last quarter. Finally, Zions Bancorporation National Association UT boosted its holdings in Elevance Health by 100.7% during the second quarter. Zions Bancorporation National Association UT now owns 604 shares of the company’s stock worth $235,000 after purchasing an additional 303 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ELV. Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Leerink Partners reissued a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. The Goldman Sachs Group began coverage on Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target on the stock. Wells Fargo & Company cut their price objective on Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, Robert W. Baird dropped their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $397.33.

Elevance Health Price Performance

ELV opened at $317.51 on Monday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The firm’s fifty day moving average price is $329.41 and its two-hundred day moving average price is $344.28. The company has a market capitalization of $70.56 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

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 the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates 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 was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $8.37 earnings per share. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 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 Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. Elevance Health’s payout ratio is presently 27.96%.

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.