Teacher Retirement System of Texas Grows Position in Elevance Health, Inc. $ELV

Teacher Retirement System of Texas boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,790 shares of the company’s stock after buying an additional 2,603 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Elevance Health worth $61,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GLOBALT Investments LLC GA raised its position in Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after buying an additional 24 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after buying an additional 27 shares during the last quarter. Hemington Wealth Management increased its position in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after purchasing an additional 27 shares during the last quarter. Aspen Investment Management Inc increased its position in shares of Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock valued at $456,000 after purchasing an additional 27 shares during the last quarter. Finally, Prudent Man Advisors LLC increased its position in shares of Elevance Health by 2.3% during the 1st quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock valued at $547,000 after purchasing an additional 28 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Down 1.1%

ELV stock opened at $342.45 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $76.11 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.25 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The stock has a fifty day moving average of $327.09 and a 200-day moving average of $352.27.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.37 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. Elevance Health’s dividend payout ratio is presently 27.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Guggenheim raised their target price on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Thursday. Leerink Partners reaffirmed a “market perform” rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Finally, Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $397.89.

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.