New York State Teachers Retirement System Sells 7,403 Shares of Elevance Health, Inc. (NYSE:ELV)

New York State Teachers Retirement System trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 191,110 shares of the company's stock after selling 7,403 shares during the period. New York State Teachers Retirement System owned 0.08% of Elevance Health worth $83,125,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ELV. Norges Bank bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $1,135,014,000. Wellington Management Group LLP grew its position in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Elevance Health by 81,726.5% in the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Elevance Health by 6,817.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after buying an additional 895,658 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of NYSE ELV traded down $38.01 during trading on Wednesday, hitting $357.75. The company had a trading volume of 2,524,324 shares, compared to its average volume of 1,591,052. The business's 50-day moving average is $392.25 and its 200 day moving average is $398.81. The company has a market cap of $80.83 billion, a P/E ratio of 13.96, a PEG ratio of 0.99 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $357.45 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.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $46.26 billion. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio is presently 26.69%.

Insider Transactions at Elevance Health

In other news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ELV shares. Truist Financial set a $500.00 price target on Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. Robert W. Baird reissued a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $498.87.

Elevance Health Company 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.