Railway Pension Investments Ltd Increases Stock Holdings in Elevance Health, Inc. $ELV

Railway Pension Investments Ltd raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,428 shares of the company’s stock after buying an additional 700 shares during the quarter. Railway Pension Investments Ltd’s holdings in Elevance Health were worth $25,838,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. WPG Advisers LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the second quarter worth $32,000. Saudi Central Bank purchased a new stake in shares of Elevance Health during the first quarter valued at $40,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after buying an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.9%

Shares of NYSE ELV opened at $332.15 on Friday. The company has a market capitalization of $73.82 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company has a 50 day simple moving average of $333.18 and a 200-day simple moving average of $335.64.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $8.37 EPS. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Morgan Stanley lifted their price target on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Wells Fargo & Company cut their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. The Goldman Sachs Group assumed coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target for the company. UBS Group cut their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, Barclays lowered their price target on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.