Mutual of America Capital Management LLC Sells 881 Shares of Elevance Health, Inc. (NYSE:ELV)

Mutual of America Capital Management LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% during the fourth quarter, HoldingsChannel reports. The fund owned 29,293 shares of the company’s stock after selling 881 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Elevance Health were worth $10,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of ELV. Lifeworks Advisors LLC increased its holdings in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the period. Fullcircle Wealth LLC grew its position in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares in the last quarter. Dunhill Financial LLC increased its stake in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Catalina Capital Group LLC raised its holdings in Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock valued at $861,000 after acquiring an additional 27 shares in the last quarter. Finally, Tobam lifted its position in shares of Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after acquiring an additional 27 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.1 %

NYSE ELV opened at $397.09 on Friday. The stock’s 50 day simple moving average is $387.78 and its 200 day simple moving average is $439.07. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a market cap of $90.28 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, sell-side analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.72%. Elevance Health’s payout ratio is currently 26.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ELV shares. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $517.03.

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.