National Pension Service Has $208.64 Million Stock Position in Elevance Health, Inc. $ELV

National Pension Service increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 536,395 shares of the company’s stock after acquiring an additional 5,308 shares during the quarter. National Pension Service owned about 0.24% of Elevance Health worth $208,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Private Wealth Management Group LLC boosted its stake in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. WPG Advisers LLC acquired a new stake in Elevance Health during the 1st quarter worth $29,000. BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health in the 2nd quarter worth $32,000. Saudi Central Bank bought a new stake in Elevance Health in the first quarter valued at about $40,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in Elevance Health by 400.0% in 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 period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Up 4.0%

ELV opened at $327.89 on Thursday. The stock has a market capitalization of $72.87 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The firm’s fifty day simple moving average is $329.09 and its 200 day simple moving average is $342.54.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion for 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 revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $8.37 EPS. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on ELV shares. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Leerink Partners reissued a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Sanford C. Bernstein lowered their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Finally, Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Hold” and a consensus target price of $397.33.

About Elevance Health

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.