New York State Teachers Retirement System Sells 5,100 Shares of Elevance Health, Inc. $ELV

New York State Teachers Retirement System trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,353 shares of the company’s stock after selling 5,100 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Elevance Health worth $60,861,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health in the 2nd quarter worth $32,000. Motco grew its position in Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the period. True Wealth Design LLC increased its stake in Elevance Health by 431.8% during the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after purchasing an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ELV shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $320.00 price objective (down from $332.00) on shares of Elevance Health in a report on Friday, December 19th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Bank of America raised their target price on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Wells Fargo & Company upped their price target on Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Hold” and a consensus target price of $400.85.

Elevance Health Price Performance

Shares of NYSE ELV opened at $372.80 on Monday. The company has a market capitalization of $82.85 billion, a PE ratio of 15.24, a PEG ratio of 1.92 and a beta of 0.51. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $338.20 and its 200-day moving average price is $327.98. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period last year, the company posted $8.37 earnings per share. Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Elevance Health 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.