Elevance Health, Inc. (NYSE:ELV) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 23.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 608,945 shares of the company's stock after selling 184,970 shares during the quarter. California Public Employees Retirement System owned about 0.26% of Elevance Health worth $224,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mutual Advisors LLC increased its stake in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock valued at $833,000 after acquiring an additional 52 shares during the last quarter. Czech National Bank raised its stake in Elevance Health by 6.5% during the fourth quarter. Czech National Bank now owns 50,286 shares of the company's stock worth $18,551,000 after purchasing an additional 3,049 shares during the period. Benjamin Edwards Inc. raised its stake in Elevance Health by 1,711.9% during the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company's stock worth $27,858,000 after purchasing an additional 50,603 shares during the period. Diversified Trust Co boosted its holdings in shares of Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company's stock valued at $8,328,000 after purchasing an additional 2,725 shares during the last quarter. Finally, JB Capital LLC grew its stake in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after buying an additional 8,038 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

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Elevance Health Stock Down 5.3 %

Shares of NYSE:ELV traded down $24.07 during trading on Friday, hitting $428.62. The company's stock had a trading volume of 4,515,502 shares, compared to its average volume of 1,416,910. The company has a market capitalization of $97.03 billion, a PE ratio of 16.74, a PEG ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock's 50-day moving average price is $408.70 and its two-hundred day moving average price is $418.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio is 26.71%.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ELV shares. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Finally, Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price on the stock in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $519.81.

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.