Maryland State Retirement & Pension System Has $4.61 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Maryland State Retirement & Pension System trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,489 shares of the company’s stock after selling 921 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Elevance Health were worth $4,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ELV. Xponance Inc. increased its holdings in Elevance Health by 2.0% during the 4th quarter. Xponance Inc. now owns 42,945 shares of the company’s stock valued at $15,842,000 after purchasing an additional 839 shares in the last quarter. OPTIMAS CAPITAL Ltd bought a new stake in shares of Elevance Health during the fourth quarter worth $738,000. Intech Investment Management LLC increased its stake in shares of Elevance Health by 42.7% in the fourth quarter. Intech Investment Management LLC now owns 38,617 shares of the company’s stock valued at $14,246,000 after buying an additional 11,547 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Elevance Health in the fourth quarter valued at about $11,077,000. Finally, Horizon Investments LLC lifted its position in Elevance Health by 1.0% during the 4th quarter. Horizon Investments LLC now owns 3,852 shares of the company’s stock worth $1,421,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Monday. 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 report on Tuesday, January 28th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Elevance Health Trading Down 1.2 %

ELV opened at $430.87 on Thursday. The firm’s fifty day moving average is $398.56 and its two-hundred day moving average is $427.12. The firm has a market cap of $97.96 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. Elevance Health’s payout ratio is currently 26.71%.

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.