Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,165 Shares of Elevance Health, Inc. (NYSE:ELV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,314 shares of the company’s stock after selling 1,165 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Elevance Health were worth $18,192,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at $26,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the fourth quarter worth about $26,000. OFI Invest Asset Management acquired a new position in Elevance Health during the fourth quarter valued at approximately $29,000. Crews Bank & Trust bought a new position in Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $434.44 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market cap of $98.77 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm’s 50-day simple moving average is $399.60 and its 200 day simple moving average is $427.17.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company reduced their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Monday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health 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.