National Pension Service Has $182.09 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

National Pension Service grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 493,614 shares of the company’s stock after purchasing an additional 19,542 shares during the period. National Pension Service owned about 0.21% of Elevance Health worth $182,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after purchasing an additional 85,770 shares during the last quarter. Sanders Capital LLC increased its holdings in Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares during the last quarter. Wellington Management Group LLP increased its holdings in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after buying an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Trading Down 3.9 %

Shares of Elevance Health stock opened at $386.22 on Thursday. The firm has a 50-day moving average of $386.62 and a 200-day moving average of $440.93. The stock has a market cap of $87.81 billion, a PE ratio of 15.08, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. 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 (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is presently 26.71%.

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.