Railway Pension Investments Ltd Grows Stock Position in Elevance Health, Inc. $ELV

Railway Pension Investments Ltd boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,428 shares of the company’s stock after buying an additional 700 shares during the quarter. Railway Pension Investments Ltd’s holdings in Elevance Health were worth $25,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. WPG Advisers LLC bought a new position in shares of Elevance Health in the first quarter worth about $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Elevance Health during the second quarter valued at about $32,000. Saudi Central Bank purchased a new position in Elevance Health during the 1st quarter valued at approximately $40,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in shares of Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ELV shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Elevance Health in a research report on Monday, November 24th. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research note on Wednesday. Finally, Mizuho decreased their price target on Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $398.44.

Elevance Health Price Performance

Shares of ELV opened at $332.15 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50 day moving average price of $333.18 and a 200-day moving average price of $335.64. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The stock has a market capitalization of $73.82 billion, a PE ratio of 13.58, a PEG ratio of 1.23 and a beta of 0.60.

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

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a 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.