Teacher Retirement System of Texas Has $52.42 Million Position in Elevance Health Inc. (NYSE:ELV)

Teacher Retirement System of Texas lowered its holdings in shares of Elevance Health Inc. (NYSE:ELVGet Rating) by 11.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,722 shares of the company’s stock after selling 14,084 shares during the period. Teacher Retirement System of Texas’ holdings in Elevance Health were worth $52,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Arrow Financial Corp bought a new position in shares of Elevance Health during the first quarter valued at $25,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Elevance Health during the fourth quarter valued at $26,000. Clean Yield Group bought a new position in shares of Elevance Health during the first quarter valued at $34,000. Motco lifted its holdings in shares of Elevance Health by 118.8% during the first quarter. Motco now owns 70 shares of the company’s stock valued at $34,000 after acquiring an additional 38 shares during the period. Finally, Castleview Partners LLC bought a new position in shares of Elevance Health during the fourth quarter valued at $36,000. 84.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELV has been the subject of a number of analyst reports. Stephens cut their price objective on Elevance Health to $550.00 in a report on Friday, July 22nd. StockNews.com began coverage on Elevance Health in a report on Thursday, July 7th. They issued a “strong-buy” rating for the company. Truist Financial lifted their price target on Elevance Health from $590.00 to $610.00 in a report on Thursday, April 21st. Credit Suisse Group lifted their price target on Elevance Health from $518.00 to $584.00 and gave the company an “outperform” rating in a report on Thursday, April 21st. Finally, Cowen lifted their price target on Elevance Health from $472.00 to $642.00 in a report on Thursday, April 21st. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $558.30.

Elevance Health Price Performance

Elevance Health stock opened at $475.13 on Friday. The firm has a market capitalization of $114.03 billion, a P/E ratio of 19.05, a PEG ratio of 1.36 and a beta of 0.90. Elevance Health Inc. has a 1 year low of $355.43 and a 1 year high of $533.68. The business has a 50-day moving average of $478.57 and a 200-day moving average of $477.93. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELVGet Rating) last posted its earnings results on Wednesday, July 20th. The company reported $8.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.74 by $0.30. The company had revenue of $38.48 billion during the quarter, compared to analyst estimates of $38.05 billion. Elevance Health had a return on equity of 19.20% and a net margin of 4.09%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $7.03 EPS. On average, equities analysts anticipate that Elevance Health Inc. will post 28.79 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be given a $1.28 dividend. The ex-dividend date is Thursday, September 8th. This represents a $5.12 annualized dividend and a dividend yield of 1.08%. Elevance Health’s dividend payout ratio is presently 20.53%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 420 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $497.14, for a total value of $208,798.80. Following the completion of the transaction, the director now directly owns 9,491 shares in the company, valued at approximately $4,718,355.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $488.60, for a total value of $3,091,860.80. Following the sale, the executive vice president now owns 14,529 shares in the company, valued at approximately $7,098,869.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Dixon, Jr. sold 420 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $497.14, for a total value of $208,798.80. Following the completion of the sale, the director now owns 9,491 shares in the company, valued at approximately $4,718,355.74. The disclosure for this sale can be found here. In the last three months, insiders sold 7,738 shares of company stock worth $3,764,851. 0.27% of the stock is owned by company insiders.

Elevance Health Profile

(Get Rating)

Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.

Further Reading

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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