Maryland State Retirement & Pension System Sells 921 Shares of Elevance Health, Inc. (NYSE:ELV)

Maryland State Retirement & Pension System lessened its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,489 shares of the company's stock after selling 921 shares during the period. Maryland State Retirement & Pension System's holdings in Elevance Health were worth $4,607,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ELV. State Street Corp boosted its stake in Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock worth $5,557,759,000 after purchasing an additional 129,709 shares in the last quarter. Geode Capital Management LLC lifted its position in Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock worth $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC grew its holdings in Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock worth $2,396,814,000 after acquiring an additional 44,805 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Elevance Health by 47.6% during the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

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Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on ELV shares. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Wells Fargo & Company lowered 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. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Finally, Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $519.81.

Elevance Health Stock Up 0.1 %

NYSE ELV traded up $0.43 during trading on Monday, hitting $427.62. The stock had a trading volume of 972,096 shares, compared to its average volume of 1,319,389. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. 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 company's 50-day moving average price is $400.52 and its two-hundred day moving average price is $424.46. The company has a market capitalization of $97.22 billion, a PE ratio of 16.70, a P/E/G ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last announced 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%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is currently 26.71%.

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.