Louisiana State Employees Retirement System Purchases Shares of 14,200 Elevance Health, Inc. (NYSE:ELV)

Louisiana State Employees Retirement System purchased a new stake in Elevance Health, Inc. (NYSE:ELVFree Report) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 14,200 shares of the company’s stock, valued at approximately $6,696,000.

Other large investors have also recently added to or reduced their stakes in the company. Simplicity Solutions LLC grew its stake in shares of Elevance Health by 6.1% in the 4th quarter. Simplicity Solutions LLC now owns 4,454 shares of the company’s stock valued at $2,100,000 after purchasing an additional 258 shares during the period. Graypoint LLC grew its stake in shares of Elevance Health by 17.6% in the 4th quarter. Graypoint LLC now owns 1,981 shares of the company’s stock valued at $934,000 after purchasing an additional 297 shares during the period. ORG Partners LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $40,000. Financial Council Asset Management Inc bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $205,000. Finally, Genesee Capital Advisors LLC grew its position in Elevance Health by 8.6% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,696 shares of the company’s stock worth $800,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.9 %

Shares of ELV traded down $4.47 during midday trading on Friday, hitting $497.49. The stock had a trading volume of 1,188,685 shares, compared to its average volume of 851,487. The company has a 50 day simple moving average of $507.48 and a two-hundred day simple moving average of $480.97. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $521.18. The firm has a market cap of $115.77 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating the consensus estimate of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to analysts’ expectations of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.23 EPS. On average, analysts anticipate that Elevance Health, Inc. will post 37.03 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.31%. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is presently 25.90%.

Analysts Set New Price Targets

ELV has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays initiated coverage on Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company decreased their price target on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $569.00.

Read Our Latest Research Report on ELV

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELVFree Report).

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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