South Dakota Investment Council Sells 800 Shares of Elevance Health, Inc. (NYSE:ELV)

South Dakota Investment Council cut its stake in Elevance Health, Inc. (NYSE:ELV) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,475 shares of the company’s stock after selling 800 shares during the period. South Dakota Investment Council’s holdings in Elevance Health were worth $12,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Elevance Health in the 3rd quarter valued at $25,000. ORG Partners LLC bought a new stake in Elevance Health in the 4th quarter valued at $40,000. Orion Capital Management LLC bought a new stake in Elevance Health in the 3rd quarter valued at $46,000. Milestone Investment Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at $51,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Elevance Health in the 4th quarter valued at $56,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $0.70 during mid-day trading on Tuesday, reaching $532.92. 796,340 shares of the stock were exchanged, compared to its average volume of 1,066,078. The company has a market cap of $123.86 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $510.23 and a 200 day simple moving average of $485.10. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during 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 firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $9.46 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ELV. Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday. Barclays increased 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. Wells Fargo & Company increased their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $587.64.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.