Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $21.55 Million Position in Elevance Health, Inc. $ELV

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 55,412 shares of the company’s stock after buying an additional 2,374 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Elevance Health were worth $21,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Verdence Capital Advisors LLC lifted its stake in Elevance Health by 3.9% during the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares during the last quarter. World Investment Advisors raised its holdings in shares of Elevance Health by 17.0% during the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock worth $10,671,000 after buying an additional 3,988 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Elevance Health by 11.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after buying an additional 817 shares during the last quarter. Focus Partners Wealth boosted its stake in Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after buying an additional 982 shares in the last quarter. Finally, Asio Capital LLC grew its position in Elevance Health by 7.1% in the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after acquiring an additional 1,015 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Argus reissued a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Robert W. Baird dropped their price objective on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Morgan Stanley boosted their target price on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $397.33.

Elevance Health Trading Down 0.7%

Shares of NYSE ELV opened at $325.94 on Friday. The firm has a 50 day moving average price of $329.73 and a two-hundred day moving average price of $341.33. The stock has a market cap of $72.44 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the previous year, the business earned $8.37 earnings per share. Elevance Health’s revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

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.