11,673 Shares in Elevance Health, Inc. $ELV Bought by Employees Retirement System of Texas

Employees Retirement System of Texas purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,673 shares of the company’s stock, valued at approximately $4,540,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hemington Wealth Management boosted its stake in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after acquiring an additional 27 shares in the last quarter. Aspen Investment Management Inc raised its holdings in Elevance Health by 2.6% during the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after purchasing an additional 27 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its position in Elevance Health by 5.3% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock worth $261,000 after purchasing an additional 30 shares in the last quarter. Regatta Capital Group LLC boosted its position in Elevance Health by 3.0% during the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after purchasing an additional 30 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Elevance Health by 1.5% in the first quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock valued at $934,000 after purchasing an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 0.7%

Shares of NYSE ELV opened at $338.61 on Thursday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The firm’s 50 day moving average price is $332.35 and its 200 day moving average price is $336.49. The firm has a market cap of $75.25 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same period in the previous year, the firm posted $8.37 EPS. Elevance Health’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELV shares. Guggenheim boosted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group reduced their price target on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. TD Cowen raised their price objective on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group initiated coverage on Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective for the company. Finally, Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $398.44.

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.