Principal Financial Group Inc. Has $116.04 Million Position in Elevance Health, Inc. (NYSE:ELV)

Principal Financial Group Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,774 shares of the company's stock after selling 1,707 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Elevance Health worth $116,036,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. ZWJ Investment Counsel Inc. lifted its holdings in shares of Elevance Health by 4.3% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 122,832 shares of the company's stock valued at $53,427,000 after purchasing an additional 5,106 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Elevance Health by 81.9% during the 1st quarter. Teacher Retirement System of Texas now owns 156,187 shares of the company's stock valued at $67,935,000 after purchasing an additional 70,321 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Elevance Health by 17.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $366,000 after purchasing an additional 127 shares in the last quarter. Novem Group lifted its holdings in shares of Elevance Health by 44.3% during the 1st quarter. Novem Group now owns 1,586 shares of the company's stock valued at $690,000 after purchasing an additional 487 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its holdings in shares of Elevance Health by 1.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 2,932 shares of the company's stock valued at $1,220,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 0.3%

Shares of NYSE:ELV traded down $1.08 during trading on Monday, hitting $346.76. 2,255,777 shares of the company were exchanged, compared to its average volume of 1,612,991. The stock has a market cap of $78.34 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a fifty-two week low of $343.83 and a fifty-two week high of $567.26. The firm has a fifty day moving average price of $386.32 and a two-hundred day moving average price of $398.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors 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 1.97%. The ex-dividend date was Tuesday, June 10th. Elevance Health's payout ratio is presently 26.69%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ELV. Robert W. Baird reiterated a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.

Insider Buying and Selling at Elevance Health

In related 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 transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.