National Pension Service Buys 8,209 Shares of Elevance Health, Inc. (NYSE:ELV)

National Pension Service increased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,257 shares of the company's stock after purchasing an additional 8,209 shares during the quarter. National Pension Service owned approximately 0.17% of Elevance Health worth $191,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Elevance Health during the 3rd quarter worth approximately $25,000. Alaska Permanent Fund Corp bought a new stake in Elevance Health during the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC grew its holdings in Elevance Health by 63.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company's stock worth $35,000 after acquiring an additional 29 shares during the last quarter. ORG Partners LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $40,000. Finally, Orion Capital Management LLC bought a new stake in Elevance Health during the 3rd quarter worth approximately $46,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.0 %

Shares of ELV stock traded up $5.26 on Thursday, hitting $538.61. The stock had a trading volume of 456,566 shares, compared to its average volume of 1,036,637. The business has a 50 day moving average of $515.17 and a 200 day moving average of $490.56. The stock has a market cap of $125.18 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts' consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts' expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company's quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $9.46 earnings per share. As a group, analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health's payout ratio is 24.64%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the company a "buy" rating in a research note on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a "buy" rating in a research note on Friday, April 19th. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Barclays upped their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an "overweight" rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada upped their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an "outperform" rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $587.42.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.