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

Mutual of America Capital Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pathway Financial Advisers LLC lifted its holdings in Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock valued at $341,956,000 after acquiring an additional 656,344 shares during the last quarter. International Assets Investment Management LLC raised its position in Elevance Health by 85,533.1% in the third 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 period. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 shares of Elevance Health during the 2nd quarter worth $173,753,000. Finally, First Eagle Investment Management LLC increased its position in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company's stock worth $1,115,301,000 after purchasing an additional 275,708 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.6 %

NYSE:ELV traded down $6.35 during mid-day trading on Friday, hitting $400.69. The stock had a trading volume of 2,616,673 shares, compared to its average volume of 2,071,922. 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 company has a market capitalization of $92.93 billion, a PE ratio of 14.61, a PEG ratio of 1.19 and a beta of 0.85. The stock has a 50-day simple moving average of $475.29 and a two-hundred day simple moving average of $513.52.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analysts' expectations of $43.47 billion. During the same period last year, the firm posted $8.99 earnings per share. Elevance Health's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given 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 (DPR) is presently 23.77%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating on the stock in a research report on Friday, October 18th. TD Cowen decreased their price objective on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Truist Financial restated a "buy" rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a research note on Friday, October 18th. Finally, Cantor Fitzgerald dropped their price objective on Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $539.20.

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.