Teachers Retirement System of The State of Kentucky Sells 1,209 Shares of Elevance Health, Inc. (NYSE:ELV)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,395 shares of the company’s stock after selling 1,209 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Elevance Health were worth $32,445,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ELV. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at about $26,000. PSI Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter valued at $31,000. Dunhill Financial LLC boosted its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health in the third quarter valued at about $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Elevance Health stock opened at $389.98 on Wednesday. The stock’s 50 day moving average is $431.73 and its 200 day moving average is $497.93. Elevance Health, Inc. has a one year low of $379.29 and a one year high of $567.26. The firm has a market cap of $90.44 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.14 and a beta of 0.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the firm posted $8.99 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is 23.77%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada reduced their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company cut their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

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.