Maryland State Retirement & Pension System Has $8.70 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Maryland State Retirement & Pension System lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,456 shares of the company’s stock after buying an additional 197 shares during the period. Maryland State Retirement & Pension System’s holdings in Elevance Health were worth $8,703,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ELV. OFI Invest Asset Management acquired a new position in shares of Elevance Health during the 3rd quarter worth about $25,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health in the 4th quarter valued at about $31,000. Hexagon Capital Partners LLC lifted its stake in Elevance Health by 63.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after purchasing an additional 29 shares during the last quarter. ORG Partners LLC acquired a new stake in Elevance Health in the 4th quarter valued at about $40,000. Finally, Orion Capital Management LLC acquired a new stake in Elevance Health in the 3rd quarter valued at about $46,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Elevance Health Stock Performance

Shares of ELV traded up $2.97 during mid-day trading on Monday, hitting $529.93. 750,918 shares of the company’s stock were exchanged, compared to its average volume of 1,049,890. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The stock’s 50-day simple moving average is $514.01 and its 200-day simple moving average is $489.68. The firm has a market cap of $123.17 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $9.46 earnings per share. On average, equities research analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Truist Financial restated a “buy” rating and set a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, Wells Fargo & Company raised their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $587.42.

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.