Elevance Health, Inc. (NYSE:ELV) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,174 shares of the company’s stock after selling 1,726 shares during the period. Mutual of America Capital Management LLC’s holdings in Elevance Health were worth $15,690,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ELV. Pathway Financial Advisers LLC raised its holdings in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after acquiring an additional 656,344 shares during the last quarter. International Assets Investment Management LLC raised its stake in Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. Maj Invest Holding A S purchased a new position in Elevance Health in the 2nd quarter valued at about $173,753,000. Finally, First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Barclays dropped their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

NYSE:ELV opened at $400.69 on Friday. The firm’s fifty day simple moving average is $475.29 and its 200 day simple moving average is $513.52. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The firm has a market capitalization of $92.93 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.22 and a beta of 0.85.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the firm earned $8.99 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.63%. Elevance Health’s dividend payout ratio is currently 23.77%.

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.