Louisiana State Employees Retirement System Sells 600 Shares of Elevance Health, Inc. (NYSE:ELV)

Louisiana State Employees Retirement System reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,500 shares of the company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Elevance Health were worth $4,611,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Raelipskie Partnership bought a new stake in shares of Elevance Health during the third quarter valued at approximately $26,000. PSI Advisors LLC purchased a new stake in Elevance Health during the 3rd quarter valued at $27,000. Eastern Bank bought a new stake in shares of Elevance Health in the 3rd quarter worth $31,000. Crews Bank & Trust purchased a new position in shares of Elevance Health in the fourth quarter worth $34,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $385.52 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a 50-day simple moving average of $385.25 and a two-hundred day simple moving average of $451.16. The firm has a market capitalization of $89.41 billion, a PE ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. Elevance Health’s dividend payout ratio is 25.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Mizuho dropped their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada cut their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.