Elevance Health, Inc. $ELV Stock Position Lessened by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,489 shares of the company’s stock after selling 400 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Elevance Health were worth $7,580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the period. Orbis Allan Gray Ltd raised its holdings in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after purchasing an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares during the period. Invesco Ltd. boosted its stake in Elevance Health by 1.2% during the 1st quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock valued at $920,501,000 after purchasing an additional 24,833 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Elevance Health by 1.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock valued at $845,394,000 after purchasing an additional 29,174 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.4%

ELV stock opened at $353.29 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $79.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.29 and a beta of 0.59. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. The company’s 50 day simple moving average is $315.10 and its 200-day simple moving average is $358.17.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $10.12 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health’s payout ratio is 29.11%.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ELV. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Wells Fargo & Company increased their target price on shares of Elevance Health from $330.00 to $412.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Argus restated a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $412.00.

About Elevance Health

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.