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

Mutual of America Capital Management LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 5.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,174 shares of the company’s stock after selling 1,726 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Elevance Health were worth $15,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bank & Trust Co bought a new stake in Elevance Health during the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 2nd quarter worth about $28,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank bought a new position in shares of Elevance Health in the third quarter valued at approximately $31,000. Finally, Crewe Advisors LLC acquired a new position in shares of Elevance Health during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Barclays decreased 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. Mizuho dropped their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Price Performance

ELV opened at $400.69 on Friday. The firm has a market capitalization of $92.93 billion, a P/E ratio of 14.61, a PEG ratio of 1.22 and a beta of 0.85. The stock has a fifty day moving average of $475.29 and a 200-day moving average of $513.52. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last announced 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). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.99 earnings per share. Equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.