New York State Teachers Retirement System Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

New York State Teachers Retirement System lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 198,513 shares of the company's stock after selling 7,525 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Elevance Health worth $73,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Raelipskie Partnership bought a new position in shares of Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank bought a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Crews Bank & Trust bought a new position in shares of Elevance Health in the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

ELV traded down $6.80 during trading hours on Tuesday, hitting $382.46. The company's stock had a trading volume of 1,588,916 shares, compared to its average volume of 1,643,446. The business's 50-day moving average price is $384.96 and its 200-day moving average price is $447.12. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $88.70 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. Elevance Health's payout ratio is 25.46%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen decreased their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research note on Monday, October 21st. 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. Argus reaffirmed a "hold" rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Finally, Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average 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.