Elevance Health, Inc. (NYSE:ELV) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,698 shares of the company's stock after selling 4,816 shares during the period. State of Alaska Department of Revenue's holdings in Elevance Health were worth $17,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ELV. Vanguard Group Inc. boosted its position in shares of Elevance Health by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after purchasing an additional 138,380 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Elevance Health by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after buying an additional 464,137 shares during the last quarter. Wellington Management Group LLP raised its stake in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after buying an additional 1,893,947 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in shares of Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after acquiring an additional 76,896 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV traded up $0.39 during mid-day trading on Thursday, reaching $375.58. The company had a trading volume of 1,155,072 shares, compared to its average volume of 1,563,131. The stock has a market capitalization of $84.86 billion, a P/E ratio of 14.65, a PEG ratio of 0.96 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 stock has a 50 day moving average of $400.00 and a two-hundred day moving average of $399.36. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. The business 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%. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.82%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ELV shares. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Barclays lowered their price target on Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $498.87.

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.