Mutual of America Capital Management LLC Has $11.76 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Mutual of America Capital Management LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,030 shares of the company's stock after selling 2,263 shares during the quarter. Mutual of America Capital Management LLC's holdings in Elevance Health were worth $11,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Milestone Asset Management LLC boosted its stake in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after buying an additional 24 shares in the last quarter. Elser Financial Planning Inc boosted its stake in Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after buying an additional 26 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after buying an additional 27 shares in the last quarter. Barlow Wealth Partners Inc. boosted its position in shares of Elevance Health by 1.3% in the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock valued at $961,000 after purchasing an additional 30 shares during the period. Finally, McLean Asset Management Corp boosted its position in shares of Elevance Health by 2.3% in the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock valued at $620,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Elevance Health Price Performance

Shares of ELV stock traded down $4.01 during trading hours on Tuesday, hitting $336.06. 1,739,334 shares of the company's stock were exchanged, compared to its average volume of 1,634,877. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. Elevance Health, Inc. has a 52 week low of $335.17 and a 52 week high of $567.26. The stock has a market cap of $75.93 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60. The stock's 50-day moving average is $379.34 and its 200-day moving average is $397.52.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 2.04%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent analyst reports. Barclays decreased their price target on Elevance Health from $480.00 to $434.00 and set an "overweight" rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Wells Fargo & Company decreased their price target on Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research report on Tuesday. Robert W. Baird restated a "neutral" rating and set a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $485.87.

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.