Maryland State Retirement & Pension System Purchases 1,614 Shares of Elevance Health, Inc. $ELV

Maryland State Retirement & Pension System increased its position in Elevance Health, Inc. (NYSE:ELV) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,224 shares of the company’s stock after acquiring an additional 1,614 shares during the period. Maryland State Retirement & Pension System’s holdings in Elevance Health were worth $5,142,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Elevance Health during the 2nd quarter worth $2,086,000. Stoneridge Investment Partners LLC acquired a new position in shares of Elevance Health during the second quarter valued at $970,000. State Street Corp increased its holdings in shares of Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock valued at $4,032,283,000 after purchasing an additional 137,914 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Elevance Health by 27.1% during the third quarter. Farther Finance Advisors LLC now owns 11,826 shares of the company’s stock valued at $4,598,000 after purchasing an additional 2,518 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Elevance Health during the second quarter valued at about $1,765,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.2%

ELV opened at $430.16 on Friday. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $450.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s fifty day moving average is $415.11 and its 200-day moving average is $374.67. The company has a market capitalization of $92.94 billion, a PE ratio of 18.34, a P/E/G ratio of 2.05 and a beta of 0.63.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. The business had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.28 billion. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $6.03 earnings per share. On average, equities analysts predict that Elevance Health, Inc. will post 29.15 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health’s dividend payout ratio is presently 29.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ELV. Mizuho set a $490.00 target price on shares of Elevance Health in a research report on Friday, October 23rd. The Goldman Sachs Group reissued a “neutral” rating and set a $451.00 target price on shares of Elevance Health in a research note on Friday, October 23rd. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. TD Cowen upped their price target on shares of Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Finally, Guggenheim increased their price objective on shares of Elevance Health from $460.00 to $485.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $456.48.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Ratnakar Lavu sold 1,300 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the completion of the sale, the executive vice president directly owned 14,849 shares of the company’s stock, valued at approximately $6,533,560. This represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Kaye sold 10,584 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total transaction of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at approximately $8,766,949.47. This trade represents a 34.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.34% of the stock is currently owned by corporate insiders.

Elevance Health Profile

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.