Elevance Health, Inc. $ELV Shares Sold by Vest Financial LLC

Vest Financial LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,982 shares of the company’s stock after selling 10,817 shares during the quarter. Vest Financial LLC’s holdings in Elevance Health were worth $28,752,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC increased its stake in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Elevance Health during the second quarter valued at approximately $32,000. Motco raised its holdings in Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. True Wealth Design LLC lifted its position in Elevance Health by 431.8% in the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after purchasing an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc lifted its position in Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ELV. Wolfe Research set a $425.00 price objective on Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Bank of America boosted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Robert W. Baird upped their price target on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Morgan Stanley lowered their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Finally, Guggenheim increased their target price on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.85.

Elevance Health Price Performance

NYSE ELV opened at $368.27 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a market cap of $81.84 billion, a PE ratio of 15.05, a PEG ratio of 1.93 and a beta of 0.51. The stock’s 50-day moving average price is $346.57 and its two-hundred day moving average price is $328.18.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $8.37 earnings per share. On average, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.