State of New Jersey Common Pension Fund D Has $62.83 Million Stake in Elevance Health, Inc. (NYSE:ELV)

State of New Jersey Common Pension Fund D trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,227 shares of the company’s stock after selling 2,778 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Elevance Health worth $62,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $25,000. Alaska Permanent Fund Corp bought a new position in Elevance Health in the fourth quarter valued at approximately $31,000. ORG Partners LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $40,000. Orion Capital Management LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $46,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Elevance Health in the third quarter worth $51,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.4 %

Elevance Health stock traded down $2.42 during trading on Friday, reaching $537.26. The stock had a trading volume of 700,258 shares, compared to its average volume of 1,059,909. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The stock has a market cap of $124.87 billion, a PE ratio of 20.40, a P/E/G ratio of 1.18 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $511.40 and a 200 day moving average price of $485.81.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the prior year, the business earned $9.46 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Mizuho increased their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Wells Fargo & Company boosted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insider Buying and Selling

In other news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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.