Elevance Health, Inc. $ELV Shares Sold by Maia Wealth LLC

Maia Wealth LLC reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,571 shares of the company’s stock after selling 194 shares during the period. Maia Wealth LLC’s holdings in Elevance Health were worth $2,556,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. WPG Advisers LLC purchased a new stake in shares of Elevance Health in the first quarter valued at approximately $29,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Elevance Health during the 2nd quarter worth $32,000. Saudi Central Bank acquired a new stake in shares of Elevance Health in the first quarter valued at about $40,000. Glass Jacobson Investment Advisors llc boosted its holdings in Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Elevance Health during the second quarter worth about $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ELV. Wells Fargo & Company decreased their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. UBS Group lowered their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Barclays dropped their price target on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. TD Cowen boosted their price objective on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Hold” and a consensus price target of $397.33.

Elevance Health Stock Up 2.0%

Shares of NYSE:ELV opened at $336.28 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $74.73 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.23 and a beta of 0.60. The stock’s 50-day moving average price is $331.74 and its two-hundred day moving average price is $336.47. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the prior year, the company posted $8.37 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

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.