Elevance Health, Inc. (NYSE:ELV) Stake Cut by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in Elevance Health, Inc. (NYSE:ELVFree Report) by 20.7% during the second quarter, Holdings Channel.com reports. The firm owned 38,513 shares of the company’s stock after selling 10,058 shares during the period. Texas Permanent School Fund Corp’s holdings in Elevance Health were worth $20,869,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Richwood Investment Advisors LLC increased its holdings in shares of Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after purchasing an additional 20 shares during the period. Bell Investment Advisors Inc increased its position in shares of Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. lifted its holdings in shares of Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after acquiring an additional 20 shares during the period. Finally, American Trust boosted its position in shares of Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. Barclays cut their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. Morgan Stanley assumed coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Royal Bank of Canada increased their price objective on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Robert W. Baird began coverage on shares of Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research note on Thursday. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Buy” and an average price target of $604.29.

Read Our Latest Research Report on Elevance Health

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is owned by insiders.

Elevance Health Trading Up 0.7 %

ELV stock traded up $3.57 during midday trading on Monday, reaching $545.48. The stock had a trading volume of 32,486 shares, compared to its average volume of 1,012,924. The firm has a market cap of $126.49 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $533.79 and a two-hundred day simple moving average of $526.73.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. During the same period last year, the firm earned $9.04 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. Elevance Health’s dividend payout ratio is 24.64%.

Elevance Health 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.

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

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