Public Employees Retirement System of Ohio Sells 5,492 Shares of Elevance Health, Inc. $ELV

Public Employees Retirement System of Ohio trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,489 shares of the company’s stock after selling 5,492 shares during the period. Public Employees Retirement System of Ohio’s holdings in Elevance Health were worth $36,155,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Redwood Investment Management LLC bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $1,163,000. Proficio Capital Partners LLC bought a new position in Elevance Health during the 2nd quarter worth approximately $542,000. Pure Financial Advisors LLC grew its position in Elevance Health by 6.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 2,625 shares of the company’s stock worth $1,015,000 after acquiring an additional 160 shares during the last quarter. Corient Private Wealth LP boosted its stake in shares of Elevance Health by 3.8% during the second quarter. Corient Private Wealth LP now owns 72,921 shares of the company’s stock valued at $28,201,000 after purchasing an additional 2,703 shares during the period. Finally, Permanens Capital L.P. grew its holdings in shares of Elevance Health by 5.6% in the second quarter. Permanens Capital L.P. now owns 1,562 shares of the company’s stock worth $604,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and increased their price target for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. The Goldman Sachs Group reiterated a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Robert W. Baird raised their target price on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a report on Thursday, July 16th. Finally, Raymond James Financial set a $450.00 target price on Elevance Health in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $395.28 on Friday. The business has a fifty day moving average price of $395.36 and a 200-day moving average price of $362.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $85.72 billion, a PE ratio of 17.57, a PEG ratio of 2.28 and a beta of 0.68. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.84 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.