Elevance Health, Inc. (NYSE:ELV) Position Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in Elevance Health, Inc. (NYSE:ELV) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,456 shares of the company’s stock after purchasing an additional 197 shares during the period. Maryland State Retirement & Pension System’s holdings in Elevance Health were worth $8,703,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $25,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health during the 4th quarter valued at $31,000. Hexagon Capital Partners LLC raised its stake in Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after acquiring an additional 29 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at $40,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health during the 3rd quarter valued at $46,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. UBS Group lifted their target price on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada lifted their target price on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Stock Up 0.6 %

Shares of Elevance Health stock traded up $2.97 during midday trading on Monday, hitting $529.93. The company’s stock had a trading volume of 750,918 shares, compared to its average volume of 1,049,890. The firm has a market capitalization of $123.17 billion, a P/E ratio of 20.03, a PEG ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50-day simple moving average of $514.01 and a 200-day simple moving average of $489.68.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $9.46 earnings per share. As a group, sell-side analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Elevance Health’s payout ratio is 24.64%.

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.