State of Tennessee Department of Treasury Has $27.55 Million Position in Elevance Health, Inc. (NYSE:ELV)

State of Tennessee Department of Treasury trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,670 shares of the company’s stock after selling 19,691 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Elevance Health were worth $27,546,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its stake in shares of Elevance Health by 0.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 16,616 shares of the company’s stock valued at $6,128,000 after acquiring an additional 46 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Elevance Health by 71.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,775 shares of the company’s stock worth $4,713,000 after purchasing an additional 5,320 shares in the last quarter. Trajan Wealth LLC increased its holdings in shares of Elevance Health by 5.7% during the fourth quarter. Trajan Wealth LLC now owns 52,381 shares of the company’s stock worth $19,323,000 after purchasing an additional 2,839 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $1,365,000. Finally, MML Investors Services LLC boosted its stake in shares of Elevance Health by 16.5% in the fourth quarter. MML Investors Services LLC now owns 74,356 shares of the company’s stock valued at $27,430,000 after buying an additional 10,527 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ELV shares. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Monday, March 17th. Truist Financial upped their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, Barclays upped their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $508.81.

Elevance Health Stock Down 4.4 %

Shares of NYSE ELV opened at $405.68 on Tuesday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market cap of $91.84 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a 50 day simple moving average of $417.18 and a 200 day simple moving average of $409.20.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. Elevance Health’s dividend payout ratio is presently 26.71%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value 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 approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.