Strs Ohio Sells 2,902 Shares of Elevance Health, Inc. $ELV

Key Points

• Strs Ohio trimmed its stake in Elevance by 3.6%, selling 2,902 shares and now holds 77,407 shares valued at about $27.14 million.
• Elevance beat quarterly estimates with EPS of $12.58 (vs. $10.74 expected) and revenue of $49.49B (vs. $48.21B), and analysts collectively rate the stock a "Moderate Buy" with an average target of $384.58.
• The company announced a quarterly dividend of $1.72 (annualized $6.88), payable June 25, implying a ~1.8% yield and a payout ratio near 29%.

Strs Ohio cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,407 shares of the company's stock after selling 2,902 shares during the quarter. Strs Ohio's holdings in Elevance Health were worth $27,135,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Physician Wealth Advisors Inc. lifted its position in shares of Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company's stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Rossby Financial LCC lifted its position in shares of Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company's stock worth $28,000 after purchasing an additional 44 shares during the last quarter. Activest Wealth Management lifted its position in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company's stock worth $27,000 after purchasing an additional 34 shares during the last quarter. Motco lifted its position in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company's stock worth $32,000 after purchasing an additional 77 shares during the last quarter. Finally, ORG Partners LLC lifted its position in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company's stock worth $38,000 after purchasing an additional 59 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

ELV stock opened at $372.78 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The business has a 50-day moving average price of $310.69 and a 200 day moving average price of $331.77. The company has a market capitalization of $80.95 billion, a P/E ratio of 15.86, a PEG ratio of 2.12 and a beta of 0.66. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $424.24.

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

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Elevance Health's payout ratio is presently 29.26%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ELV shares. UBS Group set a $400.00 target price on Elevance Health in a research report on Thursday, January 29th. Leerink Partners set a $364.00 target price on Elevance Health in a research report on Thursday, April 23rd. The Goldman Sachs Group lifted their target price on Elevance Health from $350.00 to $370.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. lifted their target price on Elevance Health from $397.00 to $411.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Finally, Bank of America upgraded Elevance Health from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $435.00 in a research report on Wednesday. Thirteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently 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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.