Teachers Retirement System of The State of Kentucky Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 72.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,196 shares of the company’s stock after selling 45,199 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Elevance Health were worth $6,343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after purchasing an additional 138,380 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the last quarter. Sanders Capital LLC grew its stake in Elevance Health by 1.7% during the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company’s stock valued at $1,728,722,000 after purchasing an additional 76,896 shares in the last quarter. Finally, Capital International Investors increased its holdings in Elevance Health by 0.9% during the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company’s stock worth $1,431,559,000 after purchasing an additional 35,576 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ELV shares. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Guggenheim assumed coverage on Elevance Health in a report on Wednesday, April 9th. They issued a “buy” rating and a $518.00 price target for the company. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $508.81.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction 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 transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 2.3 %

Shares of ELV stock opened at $416.06 on Wednesday. The firm has a market capitalization of $94.19 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock has a fifty day moving average of $417.66 and a two-hundred day moving average of $409.25.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

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.