Illinois Municipal Retirement Fund Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

Illinois Municipal Retirement Fund decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,106 shares of the company’s stock after selling 3,900 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $17,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Impax Asset Management Group plc grew its holdings in shares of Elevance Health by 1.1% during the 4th quarter. Impax Asset Management Group plc now owns 25,596 shares of the company’s stock worth $9,442,000 after purchasing an additional 291 shares during the period. Crestwood Advisors Group LLC boosted its holdings in Elevance Health by 26.9% in the 4th quarter. Crestwood Advisors Group LLC now owns 669 shares of the company’s stock worth $247,000 after acquiring an additional 142 shares during the period. Colonial River Investments LLC raised its position in shares of Elevance Health by 168.0% in the 4th quarter. Colonial River Investments LLC now owns 1,509 shares of the company’s stock valued at $557,000 after purchasing an additional 946 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Elevance Health in the 4th quarter valued at approximately $4,848,000. Finally, C WorldWide Group Holding A S raised its position in shares of Elevance Health by 30.3% in the 4th quarter. C WorldWide Group Holding A S now owns 91,383 shares of the company’s stock valued at $33,711,000 after purchasing an additional 21,239 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial lowered their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho lowered their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Down 0.0 %

Shares of NYSE ELV opened at $384.91 on Tuesday. The business has a fifty day simple moving average of $385.48 and a 200-day simple moving average of $442.23. The company has a market cap of $87.51 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

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

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio is currently 26.71%.

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.