Oregon Public Employees Retirement Fund Sells 121 Shares of Elevance Health, Inc. (NYSE:ELV)

Oregon Public Employees Retirement Fund trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,959 shares of the company’s stock after selling 121 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Elevance Health were worth $10,815,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $28,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at about $28,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Elevance Health during the 4th quarter valued at about $28,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Elevance Health during the 1st quarter valued at about $32,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen cut their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. boosted their price target on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Robert W. Baird assumed coverage on Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 price objective for the company. Finally, Truist Financial boosted their price objective on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Up 1.0 %

Shares of ELV opened at $562.29 on Wednesday. The stock has a market capitalization of $130.69 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $567.26. The business’s 50 day simple moving average is $533.34 and its 200-day simple moving average is $526.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion for 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 company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $9.04 EPS. As a group, equities analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.16%. Elevance Health’s payout ratio is presently 24.64%.

Insider Buying and Selling

In other news, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 over the last three months. 0.35% of the stock is owned by insiders.

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.