Teachers Retirement System of The State of Kentucky Sells 45,199 Shares of Elevance Health, Inc. (NYSE:ELV)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 72.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,196 shares of the company's stock after selling 45,199 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Elevance Health were worth $6,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in Elevance Health in the fourth quarter worth $29,000. WealthTrak Capital Management LLC bought a new stake in Elevance Health in the fourth quarter valued at $29,000. Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the fourth quarter valued at $30,000. Finally, Crews Bank & Trust bought a new position in shares of Elevance Health during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research note on Wednesday. Robert W. Baird reissued a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Barclays increased their price target on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a report on Monday, March 17th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $509.44.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,535 shares of company stock valued at $3,521,612 in the last quarter. Company insiders own 0.29% of the company's stock.

Elevance Health Trading Down 1.7 %

Shares of ELV stock traded down $7.24 during trading hours on Friday, reaching $421.55. 1,534,488 shares of the stock traded hands, compared to its average volume of 1,457,101. The business has a fifty day moving average price of $420.00 and a 200 day moving average price of $408.48. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 capitalization of $95.43 billion, a PE ratio of 16.46, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio 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.