Public Employees Retirement System of Ohio cut its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 97,740 shares of the company's stock after selling 2,928 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Elevance Health were worth $38,017,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health during the first quarter worth about $299,000. Focus Partners Wealth boosted its holdings in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after purchasing an additional 982 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after purchasing an additional 817 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in Elevance Health in the first quarter valued at approximately $522,000. 89.24% of the stock is owned by institutional investors and hedge funds.
Elevance Health Price Performance
Elevance Health stock opened at $326.43 on Thursday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $534.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day simple moving average of $302.00 and a 200-day simple moving average of $366.16. The stock has a market capitalization of $73.51 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter last year, the company earned $10.12 EPS. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.
Elevance Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio is currently 29.11%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. UBS Group lowered their price target on Elevance Health from $435.00 to $425.00 and set a "buy" rating for the company in a report on Friday, September 5th. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Robert W. Baird reduced their price target on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Finally, Barclays upped their price target on shares of Elevance Health from $327.00 to $373.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $411.06.
View Our Latest Analysis on ELV
Insiders Place Their Bets
In other news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction on Friday, July 18th. The shares were bought at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer owned 151,020 shares of the company's stock, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan D. Devore bought 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.
About Elevance Health
(
Free Report)
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.
See Also
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