Public Employees Retirement System of Ohio Takes Position in Elevance Health, Inc. (NYSE:ELV)

Public Employees Retirement System of Ohio bought a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 105,277 shares of the company's stock, valued at approximately $38,837,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Atomi Financial Group Inc. lifted its stake in Elevance Health by 6.8% in the fourth quarter. Atomi Financial Group Inc. now owns 657 shares of the company's stock valued at $243,000 after buying an additional 42 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Elevance Health in the fourth quarter valued at approximately $16,311,000. Mutual Advisors LLC lifted its stake in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after buying an additional 52 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Elevance Health by 10.4% in the fourth quarter. Avior Wealth Management LLC now owns 1,300 shares of the company's stock valued at $480,000 after buying an additional 122 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Elevance Health by 24.9% in the fourth quarter. Inspire Investing LLC now owns 2,842 shares of the company's stock valued at $1,048,000 after buying an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ELV. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Argus set a $465.00 target price on Elevance Health in a report on Friday, April 25th. Truist Financial boosted their target price on Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a report on Friday, April 11th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Elevance Health Stock Up 0.9%

ELV traded up $3.46 during trading on Tuesday, reaching $375.73. 1,938,372 shares of the stock traded hands, compared to its average volume of 1,528,673. The stock has a market cap of $84.89 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock's 50-day simple moving average is $418.36 and its two-hundred day simple moving average is $402.34.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.82%. Elevance Health's dividend payout ratio is presently 26.69%.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,535 shares of company stock valued at $3,521,612. Insiders own 0.29% of the company's stock.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.