New York State Common Retirement Fund Sells 1,000 Shares of Elevance Health, Inc. (NYSE:ELV)

New York State Common Retirement Fund cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,030 shares of the company's stock after selling 1,000 shares during the period. New York State Common Retirement Fund owned about 0.14% of Elevance Health worth $120,641,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raelipskie Partnership acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter valued at $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter valued at $31,000. Crews Bank & Trust acquired a new stake in Elevance Health during the 4th quarter valued at $34,000. Finally, Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 1.4 %

Shares of NYSE:ELV traded down $5.46 during midday trading on Friday, hitting $385.04. The company had a trading volume of 1,736,819 shares, compared to its average volume of 1,621,539. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month 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 stock has a market cap of $89.30 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The firm has a fifty day simple moving average of $385.18 and a 200 day simple moving average of $445.29.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts predict that Elevance Health, Inc. will post 34 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health's payout ratio is currently 25.46%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ELV shares. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus reiterated a "hold" rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $517.03.

Elevance Health 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.