New Mexico Educational Retirement Board Buys 1,800 Shares of Elevance Health, Inc. (NYSE:ELV)

New Mexico Educational Retirement Board lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,146 shares of the company’s stock after buying an additional 1,800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Elevance Health were worth $6,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ELV. abrdn plc raised its stake in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC raised its stake in Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares during the period. Canoe Financial LP raised its stake in Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Elevance Health during the 4th quarter valued at approximately $218,000. Finally, Tower Research Capital LLC TRC raised its stake in Elevance Health by 114.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was 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 owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Trading Up 1.1 %

Shares of NYSE ELV traded up $6.09 during trading hours on Friday, hitting $541.86. 1,711,417 shares of the company traded hands, compared to its average volume of 978,465. The stock has a market capitalization of $125.94 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average price is $534.36 and its 200 day moving average price is $508.85. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $550.34.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.46 EPS. On average, equities research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Mizuho lifted their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Robert W. Baird started coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective on the stock. Jefferies Financial Group lifted their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Baird R W raised Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $611.36.

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.