Mutual of America Capital Management LLC Has $17.29 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Mutual of America Capital Management LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,900 shares of the company’s stock after selling 1,685 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Elevance Health were worth $17,285,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $209,000. ING Groep NV bought a new stake in Elevance Health during the fourth quarter worth $1,119,000. PNC Financial Services Group Inc. grew its holdings in Elevance Health by 1.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 81,298 shares of the company’s stock worth $38,337,000 after buying an additional 1,226 shares in the last quarter. Gladstone Institutional Advisory LLC grew its holdings in Elevance Health by 3.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,172 shares of the company’s stock worth $553,000 after buying an additional 42 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Elevance Health by 0.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,471 shares of the company’s stock worth $1,637,000 after buying an additional 23 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $543.25 on Wednesday. The stock’s 50-day simple moving average is $535.93 and its 200 day simple moving average is $528.70. The stock has a market capitalization of $126.26 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health, Inc. has a 52-week low of $431.38 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.04 EPS. Research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.20%. Elevance Health’s payout ratio is currently 24.64%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ELV. Robert W. Baird began coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective for the company. Barclays reduced their price objective on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, September 10th. Stephens restated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price objective on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $604.29.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.

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.