Public Employees Retirement System of Ohio Lowers Holdings in Elevance Health, Inc. $ELV

Public Employees Retirement System of Ohio lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 5.5% during the 2nd quarter, Holdings Channel reports. The firm owned 93,489 shares of the company’s stock after selling 5,492 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Elevance Health were worth $36,155,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ELV. Stoneridge Investment Partners LLC acquired a new stake in Elevance Health during the second quarter worth $970,000. Manning & Napier Advisors LLC lifted its holdings in shares of Elevance Health by 1,423.1% during the 4th quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock worth $129,152,000 after acquiring an additional 344,237 shares during the period. State of Wyoming acquired a new stake in shares of Elevance Health during the 2nd quarter valued at about $1,765,000. Mawer Investment Management Ltd. boosted its position in shares of Elevance Health by 10.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company’s stock valued at $72,597,000 after acquiring an additional 20,438 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Elevance Health by 7.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 79,811 shares of the company’s stock valued at $30,865,000 after purchasing an additional 5,772 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.0%

ELV opened at $395.28 on Friday. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The company has a fifty day moving average price of $395.36 and a two-hundred day moving average price of $362.06. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market cap of $85.72 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.84 earnings per share. Analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. Elevance Health’s payout ratio is 30.58%.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Cantor Fitzgerald boosted their target price on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Barclays decreased their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research note on Thursday, July 16th. Finally, Truist Financial raised their target price on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $440.90.

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.