Illinois Municipal Retirement Fund Has $17.01 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Illinois Municipal Retirement Fund lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,106 shares of the company’s stock after selling 3,900 shares during the period. Illinois Municipal Retirement Fund’s holdings in Elevance Health were worth $17,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC lifted its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $44,000. Crews Bank & Trust bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $34,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $384.91 on Tuesday. 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 market cap of $87.51 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The business has a 50 day simple moving average of $385.48 and a 200 day simple moving average of $442.23. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

Analyst Ratings Changes

Several equities analysts recently commented on ELV shares. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Finally, Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

About Elevance Health

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.