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

Mission Wealth Management LP boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 47.9% during the 4th quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth about $26,000. Dunhill Financial LLC raised its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth approximately $44,000. Crews Bank & Trust purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $34,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Elevance Health in the third quarter valued at approximately $52,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.3 %

ELV opened at $395.63 on Tuesday. 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 company has a market cap of $89.95 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The business’s fifty day moving average is $388.27 and its two-hundred day moving average is $437.33.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ELV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Mizuho reduced their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Company 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.