National Pension Service Sells 2,843 Shares of Elevance Health, Inc. $ELV

National Pension Service lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 0.5% in the second quarter, HoldingsChannel reports. The fund owned 589,713 shares of the company’s stock after selling 2,843 shares during the period. National Pension Service’s holdings in Elevance Health were worth $228,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Elevance Health by 37,390.0% during the second quarter. California State Teachers Retirement System now owns 124,019,670 shares of the company’s stock valued at $47,962,127,000 after purchasing an additional 123,688,863 shares during the period. BlackRock Inc. purchased a new stake in Elevance Health during the 2nd quarter valued at $7,344,424,000. Wellington Management Group LLP grew its holdings in Elevance Health by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after acquiring an additional 984,976 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Elevance Health by 27.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after acquiring an additional 1,607,274 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after acquiring an additional 455,946 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America raised their target price on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. UBS Group increased their price objective on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $363.00 to $498.00 in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Price Performance

Shares of NYSE ELV opened at $416.58 on Friday. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The stock has a market capitalization of $90.34 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.07 and a beta of 0.69. The company’s 50-day moving average is $397.04 and its 200 day moving average is $366.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $8.84 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.