Illinois Municipal Retirement Fund boosted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 18.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,602 shares of the company's stock after buying an additional 8,496 shares during the period. Illinois Municipal Retirement Fund's holdings in Elevance Health were worth $23,750,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC bought a new stake in Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $30,000. 89.24% of the stock is currently owned by institutional investors.
Insider Transactions at Elevance Health
In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.
Elevance Health Price Performance
Shares of ELV traded up $8.07 during trading hours on Friday, hitting $381.25. 1,774,243 shares of the company were exchanged, compared to its average volume of 1,578,161. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $86.14 billion, a PE ratio of 14.88, a PEG ratio of 0.95 and a beta of 0.60. The firm has a fifty day simple moving average of $393.84 and a 200-day simple moving average of $398.61. Elevance Health, Inc. has a one year low of $357.45 and a one year high of $567.26.
Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. As a group, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.79%. Elevance Health's payout ratio is currently 26.69%.
Wall Street Analyst Weigh In
Several analysts recently commented on ELV shares. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Mizuho raised their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Barclays dropped their price target on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $498.87.
View Our Latest Analysis on ELV
Elevance Health Company Profile
(
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.
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