California Public Employees Retirement System Raises Stock Position in Elevance Health, Inc. $ELV

California Public Employees Retirement System lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,136 shares of the company’s stock after acquiring an additional 19,153 shares during the quarter. California Public Employees Retirement System owned 0.25% of Elevance Health worth $180,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Physician Wealth Advisors Inc. boosted its position in Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Activest Wealth Management increased its position in shares of Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares in the last quarter. Rossby Financial LCC raised its stake in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after buying an additional 44 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares during the last quarter. Finally, Motco boosted its position in shares of Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after buying an additional 77 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ELV. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Wells Fargo & Company lowered their target price on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. JPMorgan Chase & Co. increased their target price on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada cut Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a report on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Stock Up 1.3%

Shares of NYSE ELV opened at $291.69 on Monday. The stock has a market capitalization of $64.38 billion, a PE ratio of 11.61, a P/E/G ratio of 1.61 and a beta of 0.51. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average of $338.25 and a 200-day moving average of $334.45. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the prior year, the company earned $3.84 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be issued a $1.72 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is presently 27.39%.

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.