Miracle Mile Advisors LLC Has $682,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Miracle Mile Advisors LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 54.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,446 shares of the company’s stock after selling 1,695 shares during the period. Miracle Mile Advisors LLC’s holdings in Elevance Health were worth $682,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ELV. OFI Invest Asset Management acquired a new position in shares of Elevance Health during the 3rd quarter worth about $25,000. Fortis Capital Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $29,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $30,000. TD Capital Management LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $30,000. Finally, Tyler Stone Wealth Management acquired a new position in shares of Elevance Health in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ELV. Barclays began coverage on Elevance Health in a research report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald increased their price target on Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $569.36.

Get Our Latest Stock Analysis on Elevance Health

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction 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 transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Down 3.3 %

Shares of ELV opened at $499.22 on Wednesday. The firm has a market capitalization of $116.17 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The business’s fifty day moving average price is $504.08 and its two-hundred day moving average price is $477.50. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $521.18.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $5.23 EPS. On average, analysts predict that Elevance Health, Inc. will post 37.15 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $1.63 dividend. The ex-dividend date was Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio is 25.90%.

Elevance Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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