Mutual of America Capital Management LLC Has $10.81 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Mutual of America Capital Management LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,293 shares of the company’s stock after selling 881 shares during the period. Mutual of America Capital Management LLC’s holdings in Elevance Health were worth $10,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waterway Wealth Management LLC lifted its position in shares of Elevance Health by 277.7% in the 4th quarter. Waterway Wealth Management LLC now owns 2,032 shares of the company’s stock valued at $750,000 after acquiring an additional 1,494 shares in the last quarter. VELA Investment Management LLC lifted its holdings in shares of Elevance Health by 101.6% in the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company’s stock valued at $765,000 after purchasing an additional 1,045 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of Elevance Health by 42.5% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 570 shares of the company’s stock valued at $210,000 after purchasing an additional 170 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Elevance Health by 49,164.4% during the fourth quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock valued at $85,234,000 after buying an additional 230,581 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Elevance Health by 2.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 5,621 shares of the company’s stock valued at $2,074,000 after buying an additional 122 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV opened at $397.09 on Friday. 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 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 stock has a 50-day moving average of $387.78 and a 200-day moving average of $439.07. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

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

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

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.