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

Teacher Retirement System of Texas lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 80.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,701 shares of the company’s stock after selling 127,089 shares during the quarter. Teacher Retirement System of Texas’ holdings in Elevance Health were worth $10,243,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC lifted its holdings in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Elevance Health during the second quarter worth $32,000. Motco raised its stake in shares of Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares in the last quarter. True Wealth Design LLC boosted its holdings in Elevance Health by 431.8% in the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after purchasing an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc grew its stake in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $370.77 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm’s 50 day moving average is $349.17 and its two-hundred day moving average is $328.67. The firm has a market capitalization of $82.40 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.91 and a beta of 0.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Truist Financial set a $400.00 target price on shares of Elevance Health in a research note on Tuesday, October 14th. Guggenheim lifted their price target on shares of Elevance Health from $398.00 to $414.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Finally, Weiss Ratings upgraded shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.