Nebula Research & Development LLC Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Nebula Research & Development LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 537.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,213 shares of the company’s stock after purchasing an additional 4,395 shares during the period. Nebula Research & Development LLC’s holdings in Elevance Health were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Van Den Berg Management I Inc. lifted its holdings in Elevance Health by 43.0% in the 4th quarter. Van Den Berg Management I Inc. now owns 16,598 shares of the company’s stock worth $6,123,000 after purchasing an additional 4,994 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Elevance Health by 7.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,045 shares of the company’s stock worth $1,492,000 after acquiring an additional 289 shares during the last quarter. Burling Wealth Partners LLC purchased a new position in Elevance Health during the fourth quarter valued at $2,782,000. D1 Capital Partners L.P. bought a new stake in Elevance Health in the 4th quarter valued at $294,751,000. Finally, Syon Capital LLC lifted its stake in Elevance Health by 1.3% in the 4th quarter. Syon Capital LLC now owns 3,698 shares of the company’s stock worth $1,364,000 after purchasing an additional 49 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 1.7 %

Shares of NYSE ELV opened at $421.55 on Friday. The business’s 50 day moving average price is $420.00 and its 200-day moving average price is $408.48. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week 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 company has a market cap of $95.43 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ELV shares. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company decreased their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Barclays lifted their price objective on shares of Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $509.44.

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction 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 owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. Company insiders own 0.29% 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.