New York State Common Retirement Fund Sells 13,308 Shares of Elevance Health, Inc. (NYSE:ELV)

New York State Common Retirement Fund lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 313,722 shares of the company's stock after selling 13,308 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Elevance Health worth $136,457,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Milestone Asset Management LLC raised its stake in Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after buying an additional 24 shares during the period. Elser Financial Planning Inc raised its stake in Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC increased its holdings in Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after purchasing an additional 27 shares in the last quarter. Barlow Wealth Partners Inc. increased its holdings in Elevance Health by 1.3% during the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock worth $961,000 after purchasing an additional 30 shares in the last quarter. Finally, McLean Asset Management Corp increased its holdings in Elevance Health by 2.3% during the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock worth $620,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Guggenheim restated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $495.80.

Elevance Health Stock Performance

Elevance Health stock traded down $5.82 during midday trading on Friday, reaching $340.04. 1,698,140 shares of the company's stock were exchanged, compared to its average volume of 1,633,788. Elevance Health, Inc. has a 52 week low of $337.61 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $76.83 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.87 and a beta of 0.60. The stock's 50-day simple moving average is $380.88 and its 200 day simple moving average is $397.57.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The business had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

About Elevance Health

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.