New Mexico Educational Retirement Board Sells 300 Shares of Elevance Health, Inc. (NYSE:ELV)

New Mexico Educational Retirement Board cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,046 shares of the company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Elevance Health were worth $4,075,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ELV. Pathway Financial Advisers LLC grew its position in Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after buying an additional 538,978 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after acquiring an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $389.58 on Friday. The stock has a 50-day simple moving average of $384.93 and a two-hundred day simple moving average of $450.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market capitalization of $90.35 billion, a PE ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83.

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

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.76%. Elevance Health’s payout ratio is 26.71%.

Wall Street Analyst Weigh In

A number of analysts have commented on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.