Mission Wealth Management LP Raises Position in Elevance Health, Inc. (NYSE:ELV)

Mission Wealth Management LP boosted its position in Elevance Health, Inc. (NYSE:ELV) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,003 shares of the company’s stock after purchasing an additional 29 shares during the period. Mission Wealth Management LP’s holdings in Elevance Health were worth $944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Elevance Health by 212.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock valued at $159,726,000 after buying an additional 249,533 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Elevance Health by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after acquiring an additional 234,439 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Elevance Health by 18.2% during the third quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock valued at $579,493,000 after acquiring an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Elevance Health by 59.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock worth $214,011,000 after purchasing an additional 182,889 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction 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 owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly 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 Price Performance

NYSE:ELV opened at $524.84 on Thursday. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $121.98 billion, a P/E ratio of 19.84, a PEG ratio of 1.18 and a beta of 0.78. The business’s 50-day moving average price is $513.01 and its 200 day moving average price is $488.20.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.46 EPS. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Mizuho upped their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Finally, UBS Group lifted their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently 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.