Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $18.19 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,314 shares of the company's stock after selling 1,165 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Elevance Health were worth $18,192,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. First Eagle Investment Management LLC boosted its stake in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA boosted its position 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 purchasing an additional 334,552 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Elevance Health in the third quarter valued at about $129,221,000. 89.24% of the stock is owned by institutional investors.

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Elevance Health Stock Performance

Shares of ELV traded down $4.20 during trading hours on Tuesday, hitting $423.03. The company had a trading volume of 1,309,735 shares, compared to its average volume of 1,319,262. The business has a fifty day moving average of $401.13 and a 200-day moving average of $423.64. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $96.18 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.62%. Elevance Health's payout ratio is 26.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ELV shares. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $519.81.

Insider Buying and Selling at Elevance Health

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