New York State Common Retirement Fund Sells 25,300 Shares of Elevance Health, Inc. (NYSE:ELV)

New York State Common Retirement Fund decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 328,030 shares of the company’s stock after selling 25,300 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of Elevance Health worth $170,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in Elevance Health in the second quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $28,000. PSI Advisors LLC bought a new stake in shares of Elevance Health during the third quarter worth approximately $27,000. Palisade Asset Management LLC acquired a new position in Elevance Health in the first quarter valued at approximately $28,000. Finally, Eastern Bank bought a new position in Elevance Health in the third quarter valued at approximately $31,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, UBS Group lowered their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $551.07.

Elevance Health Stock Up 2.0 %

Shares of Elevance Health stock traded up $8.10 during trading hours on Friday, reaching $413.86. 92,802 shares of the company’s stock were exchanged, compared to its average volume of 1,111,627. The stock has a market cap of $95.98 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.22 and a beta of 0.82. The company has a 50 day moving average of $504.60 and a two-hundred day moving average of $521.93. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the company posted $8.99 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.58%. Elevance Health’s dividend payout ratio is currently 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.