National Pension Service Has $246.52 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

National Pension Service increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 474,072 shares of the company’s stock after purchasing an additional 59,779 shares during the quarter. National Pension Service owned approximately 0.20% of Elevance Health worth $246,517,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank & Trust Co bought a new stake in shares of Elevance Health in the second quarter worth $27,000. PSI Advisors LLC bought a new stake in Elevance Health during the third quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health during the second quarter valued at $28,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health during the second quarter valued at $30,000. Finally, Eastern Bank bought a new position in shares of Elevance Health during the 3rd quarter worth about $31,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ELV. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Truist Financial restated a “buy” rating and issued a $520.00 target price (down previously from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Wells Fargo & Company dropped their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen dropped their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $544.53.

Elevance Health Trading Up 0.7 %

NYSE:ELV opened at $417.02 on Monday. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The stock has a market capitalization of $96.72 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $501.96 and its 200 day moving average is $521.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the prior year, the firm posted $8.99 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that Elevance Health, Inc. will post 32.93 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. Elevance Health’s dividend payout ratio is 23.77%.

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.