Kentucky Retirement Systems Has $9.49 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Kentucky Retirement Systems lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,514 shares of the company’s stock after selling 329 shares during the quarter. Kentucky Retirement Systems’ holdings in Elevance Health were worth $9,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First Eagle Investment Management LLC increased its holdings in Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. Sienna Gestion lifted its holdings in shares of Elevance Health by 0.6% in the second quarter. Sienna Gestion now owns 12,994 shares of the company’s stock valued at $7,038,000 after purchasing an additional 81 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Elevance Health by 6.3% during the second quarter. Hsbc Holdings PLC now owns 885,954 shares of the company’s stock worth $479,639,000 after buying an additional 52,121 shares during the period. Blair William & Co. IL grew its holdings in shares of Elevance Health by 21.6% during the second quarter. Blair William & Co. IL now owns 14,756 shares of the company’s stock worth $7,995,000 after buying an additional 2,622 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Elevance Health by 22.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,737 shares of the company’s stock worth $14,487,000 after buying an additional 4,857 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.7 %

Shares of NYSE:ELV opened at $539.46 on Thursday. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market capitalization of $125.38 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company has a 50-day simple moving average of $536.03 and a 200 day simple moving average of $528.77.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm posted $9.04 earnings per share. Sell-side analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Analyst Ratings Changes

ELV has been the topic of several research reports. Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Tuesday, September 10th. Barclays lowered their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Finally, Bank of America reissued a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $604.29.

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.