New Mexico Educational Retirement Board Trims Stake in Elevance Health, Inc. (NYSE:ELV)

New Mexico Educational Retirement Board lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,046 shares of the company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Elevance Health were worth $4,075,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC boosted its position in shares of Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after acquiring an additional 656,344 shares during the last quarter. Stifel Financial Corp grew its stake in Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares in the last quarter. International Assets Investment Management LLC grew its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after buying an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research reports. Morgan Stanley lowered their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. TD Cowen cut their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Down 0.5 %

Shares of ELV opened at $389.58 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $384.93 and its 200-day moving average price is $450.29. The firm has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Elevance Health Company 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.