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

Mission Wealth Management LP raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 47.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 quarter.

Several other large investors also recently modified their holdings of ELV. SBI Securities Co. Ltd. bought a new position in shares of Elevance Health in the 4th quarter worth approximately $921,000. Jones Financial Companies Lllp raised its position in Elevance Health by 120.0% in the fourth quarter. Jones Financial Companies Lllp now owns 14,028 shares of the company's stock worth $5,175,000 after acquiring an additional 7,653 shares during the period. Modera Wealth Management LLC increased its stake in shares of Elevance Health by 0.3% in the 4th quarter. Modera Wealth Management LLC now owns 23,934 shares of the company's stock worth $8,829,000 after purchasing an additional 69 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Elevance Health in the fourth quarter worth about $111,000. Finally, Maia Wealth LLC raised its stake in shares of Elevance Health by 19.4% in the fourth quarter. Maia Wealth LLC now owns 6,432 shares of the company's stock worth $2,373,000 after buying an additional 1,047 shares during the period. Institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several analyst reports. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Saturday, March 1st. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Argus reissued a "hold" rating and issued a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $517.03.

Elevance Health Price Performance

Shares of NYSE ELV traded down $2.52 during mid-day trading on Thursday, hitting $394.96. 123,491 shares of the company's stock traded hands, compared to its average volume of 1,574,102. The company has a market capitalization of $89.79 billion, a P/E ratio of 15.39, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year 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. The company's 50-day moving average is $389.26 and its two-hundred day moving average is $436.03.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. On average, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.73%. Elevance Health's payout ratio is 26.71%.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

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.