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

National Pension Service reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 589,713 shares of the company’s stock after selling 2,843 shares during the quarter. National Pension Service owned about 0.27% of Elevance Health worth $228,060,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Field & Main Bank grew its position in shares of Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after purchasing an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC boosted its stake in Elevance Health by 1.3% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock worth $805,000 after purchasing an additional 26 shares during the period. WealthCollab LLC boosted its stake in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the period. Signet Financial Management LLC increased its position in shares of Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after buying an additional 28 shares during the period. Finally, Cornerstone Financial Management LLC increased its position in shares of Elevance Health by 12.0% during the second quarter. Cornerstone Financial Management LLC now owns 270 shares of the company’s stock valued at $104,000 after buying an additional 29 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on ELV shares. TD Cowen boosted their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research note on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. UBS Group lifted their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Guggenheim raised their target price on shares of Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Price Performance

ELV opened at $416.58 on Friday. The stock has a 50-day moving average price of $397.04 and a 200-day moving average price of $366.40. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $90.34 billion, a P/E ratio of 18.51, a PEG ratio of 2.07 and a beta of 0.69.

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

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

About Elevance Health

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.