Illinois Municipal Retirement Fund Lowers Stake in Elevance Health, Inc. (NYSE:ELV)

Illinois Municipal Retirement Fund decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 42,766 shares of the company’s stock after selling 5,317 shares during the period. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $20,167,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. RWA Wealth Partners LLC boosted its holdings in shares of Elevance Health by 165.9% during the fourth quarter. RWA Wealth Partners LLC now owns 89,221 shares of the company’s stock worth $42,073,000 after purchasing an additional 55,665 shares during the last quarter. Sage Mountain Advisors LLC boosted its stake in Elevance Health by 12.0% in the 4th quarter. Sage Mountain Advisors LLC now owns 1,055 shares of the company’s stock worth $497,000 after buying an additional 113 shares during the last quarter. Monument Capital Management boosted its stake in Elevance Health by 23.5% in the 4th quarter. Monument Capital Management now owns 642 shares of the company’s stock worth $303,000 after buying an additional 122 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in Elevance Health by 2.4% in the 4th quarter. Capital Investment Advisory Services LLC now owns 1,036 shares of the company’s stock valued at $489,000 after buying an additional 24 shares during the period. Finally, OLD National Bancorp IN lifted its holdings in shares of Elevance Health by 2.1% during the 4th quarter. OLD National Bancorp IN now owns 5,342 shares of the company’s stock worth $2,519,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $587.64.

Elevance Health Stock Up 0.1 %

Shares of NYSE ELV traded up $0.75 on Monday, hitting $532.17. The company had a trading volume of 1,525,122 shares, compared to its average volume of 1,069,577. The firm has a market capitalization of $123.69 billion, a P/E ratio of 20.11, a PEG ratio of 1.16 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. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $539.11. The business has a 50 day moving average of $509.68 and a two-hundred day moving average of $484.51.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.46 EPS. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insiders Place Their Bets

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by company 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.