Mirabella Financial Services LLP Takes $1.37 Million Position in Elevance Health, Inc. (NYSE:ELV)

Mirabella Financial Services LLP bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,703 shares of the company's stock, valued at approximately $1,365,000.

A number of other institutional investors have also recently modified their holdings of ELV. Vanguard Group Inc. grew its position in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Elevance Health by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after buying an additional 115,971 shares during the last quarter. Sanders Capital LLC raised its holdings in Elevance Health by 1.7% in the 4th quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock worth $1,728,722,000 after acquiring an additional 76,896 shares during the last quarter. Finally, Capital International Investors raised its holdings in Elevance Health by 0.9% in the 4th quarter. Capital International Investors now owns 3,880,630 shares of the company's stock worth $1,431,559,000 after acquiring an additional 35,576 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $11.74 during trading on Wednesday, hitting $427.64. The company had a trading volume of 1,801,405 shares, compared to its average volume of 1,452,948. 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 quick ratio of 1.50 and a current ratio of 1.45. The firm has a market capitalization of $96.81 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The stock has a 50 day simple moving average of $418.43 and a 200 day simple moving average of $409.38.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ELV shares. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Truist Financial boosted their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Mizuho raised their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a report on Monday, March 17th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $509.44.

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.