Elevance Health, Inc. (NYSE:ELV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in Elevance Health, Inc. (NYSE:ELV) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 327,030 shares of the company’s stock after selling 1,000 shares during the period. New York State Common Retirement Fund owned about 0.14% of Elevance Health worth $120,641,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Lifeworks Advisors LLC raised its position in shares of Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after acquiring an additional 25 shares during the period. Catalyst Financial Partners LLC raised its position in shares of Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after acquiring an additional 26 shares during the period. Fullcircle Wealth LLC raised its position in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after acquiring an additional 26 shares during the period. Dunhill Financial LLC raised 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. Finally, TCI Wealth Advisors Inc. raised its position in shares of Elevance Health by 5.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 506 shares of the company’s stock worth $263,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Elevance Health stock opened at $382.46 on Wednesday. The firm has a 50 day simple moving average of $384.81 and a 200-day simple moving average of $446.05. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market cap of $88.70 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83.

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, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, analysts expect that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.79%. Elevance Health’s dividend payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Argus restated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.