Elevance Health, Inc. (NYSE:ELV) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,766 shares of the company’s stock after selling 5,317 shares during the period. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $20,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Elevance Health by 45,888.1% in the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock worth $1,205,750,000 after purchasing an additional 255,138 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after buying an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Elevance Health by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock valued at $279,063,000 after buying an additional 234,439 shares during the period. Schroder Investment Management Group grew its position in Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock valued at $579,493,000 after buying an additional 204,715 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in Elevance Health by 59.3% in the third quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after buying an additional 182,889 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ELV. Truist Financial restated a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday. Wells Fargo & Company boosted their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday. Finally, UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $587.64.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $0.75 on Monday, hitting $532.17. 1,525,122 shares of the company were exchanged, compared to its average volume of 1,069,577. 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 company has a 50-day moving average price of $509.68 and a 200 day moving average price of $484.51. The stock has a market capitalization of $123.69 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $539.11.

Elevance Health (NYSE:ELV) last released its quarterly earnings results 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the firm earned $9.46 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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 issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is presently 24.64%.

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.