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

Mission Wealth Management LP raised its position in Elevance Health, Inc. (NYSE:ELV) by 47.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,138 shares of the company’s stock after purchasing an additional 1,017 shares during the period. Mission Wealth Management LP’s holdings in Elevance Health were worth $1,158,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ELV. Lifeworks Advisors LLC raised its position in shares of Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the last quarter. Dunhill Financial LLC grew its stake in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Catalina Capital Group LLC raised its holdings in Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock valued at $861,000 after acquiring an additional 27 shares during the last quarter. Tobam lifted its stake in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Finally, Jacobi Capital Management LLC boosted its holdings in shares of Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after purchasing an additional 27 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Argus reissued a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Trading Down 0.3 %

NYSE:ELV opened at $395.63 on Tuesday. The business’s 50-day moving average is $388.27 and its two-hundred day moving average is $437.33. The firm has a market capitalization of $89.95 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating 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%. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.73%. Elevance Health’s dividend payout ratio is 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.