Maia Wealth LLC Has $2.80 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Maia Wealth LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 25.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,385 shares of the company’s stock after buying an additional 1,079 shares during the period. Maia Wealth LLC’s holdings in Elevance Health were worth $2,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Iridian Asset Management LLC CT increased its stake in shares of Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares during the period. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the period. abrdn plc boosted its holdings in Elevance Health by 32.2% during the third quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after purchasing an additional 87,717 shares in the last quarter. Blair William & Co. IL boosted its holdings in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares in the last quarter. Finally, AMI Investment Management Inc. acquired a new stake in Elevance Health during the third quarter valued at approximately $1,294,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Bank of America reiterated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

Shares of ELV traded up $2.82 during mid-day trading on Wednesday, hitting $420.59. 435,653 shares of the company’s stock were exchanged, compared to its average volume of 1,127,294. Elevance Health, Inc. has a 52 week low of $397.98 and a 52 week high of $567.26. The stock’s 50-day simple moving average is $496.81 and its 200-day simple moving average is $519.96. The firm has a market cap of $97.54 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. 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 (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 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 business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the business posted $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Elevance Health, Inc. will post 32.93 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.55%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by insiders.

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.