Alaska Permanent Fund Corp Invests $31,000 in Elevance Health, Inc. (NYSE:ELV)

Alaska Permanent Fund Corp bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 65 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors also recently modified their holdings of the company. abrdn plc raised its position in Elevance Health by 86.8% in the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after buying an additional 129,364 shares during the last quarter. Cerity Partners LLC raised its position in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Elevance Health in the 4th quarter valued at $218,000. Chicago Capital LLC raised its position in Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after buying an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Elevance Health in the 4th quarter valued at $2,235,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ELV. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Truist Financial reaffirmed a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Mizuho raised their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Stock Down 0.4 %

ELV stock opened at $537.26 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $124.87 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The stock has a fifty day moving average of $511.89 and a 200-day moving average of $486.40.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.46 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.21%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate 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.