Teacher Retirement System of Texas Purchases 70,321 Shares of Elevance Health, Inc. (NYSE:ELV)

Teacher Retirement System of Texas grew its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 81.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,187 shares of the company's stock after acquiring an additional 70,321 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Elevance Health worth $67,935,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after acquiring an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Elevance Health by 4.6% during 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 purchasing an additional 464,137 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Elevance Health by 42.5% during 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 purchasing an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Elevance Health by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC raised 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 valued at $1,728,722,000 after purchasing an additional 76,896 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Trading Down 0.4%

NYSE ELV traded down $1.33 on Friday, hitting $348.92. 2,006,213 shares of the company were exchanged, compared to its average volume of 1,610,408. The company's 50 day moving average price is $387.65 and its 200-day moving average price is $398.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $78.83 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a twelve month low of $347.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) 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 the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ELV. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Mizuho lifted their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Barclays cut their price objective on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research note on Monday, June 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $498.87.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

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.