State of New Jersey Common Pension Fund D Cuts Holdings in Elevance Health, Inc. $ELV

Key Points

• State of New Jersey Common Pension Fund D trimmed its stake in Elevance Health by 4.7%, selling 3,726 shares to hold 75,790 shares valued at about $26.57 million per its latest SEC filing.
• Several large investors (Artisan, First Eagle, Brave Warrior, Baupost, Hotchkis & Wiley) substantially increased positions, and institutional investors now own 89.24% of ELV stock.
• Elevance beat quarterly estimates with EPS of $12.58 (vs. $10.74) and revenue of $49.49B (vs. $48.21B), provided FY2026 EPS guidance (~$19.85), and declared a $1.72 quarterly dividend (annual $6.88, yield ~1.8%).

State of New Jersey Common Pension Fund D decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,790 shares of the company's stock after selling 3,726 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Elevance Health were worth $26,568,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ELV. Artisan Partners Limited Partnership increased its holdings in Elevance Health by 24.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company's stock worth $1,478,857,000 after purchasing an additional 901,626 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company's stock valued at $1,292,029,000 after acquiring an additional 798,457 shares during the last quarter. Brave Warrior Advisors LLC increased its holdings in shares of Elevance Health by 65.3% in the 3rd quarter. Brave Warrior Advisors LLC now owns 1,834,002 shares of the company's stock valued at $592,603,000 after acquiring an additional 724,349 shares during the last quarter. Baupost Group LLC MA increased its holdings in shares of Elevance Health by 114.1% in the 3rd quarter. Baupost Group LLC MA now owns 1,319,000 shares of the company's stock valued at $426,195,000 after acquiring an additional 703,000 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Elevance Health by 44.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,045,480 shares of the company's stock valued at $660,935,000 after acquiring an additional 627,038 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 0.1%

Shares of NYSE ELV opened at $376.39 on Friday. The stock has a market cap of $81.74 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.25 and a beta of 0.49. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $424.24. The business has a 50-day moving average price of $310.69 and a 200 day moving average price of $331.90.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts forecast that Elevance Health, Inc. will post 26.79 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. Leerink Partners set a $364.00 price objective on Elevance Health in a report on Thursday, April 23rd. Robert W. Baird increased their price objective on Elevance Health from $317.00 to $331.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Bank of America upgraded Elevance Health from a "neutral" rating to a "buy" rating and increased their price objective for the company from $405.00 to $435.00 in a report on Wednesday. Barclays increased their price objective on Elevance Health from $393.00 to $408.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Finally, Mizuho dropped their price objective on Elevance Health from $413.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, March 11th. Thirteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $384.58.

About Elevance Health

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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