Whittier Trust Co. of Nevada Inc. Cuts Stake in Elevance Health, Inc. $ELV

Whittier Trust Co. of Nevada Inc. trimmed its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 80.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,740 shares of the company’s stock after selling 31,380 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Elevance Health were worth $2,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ELV. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Elevance Health during the 2nd quarter valued at approximately $32,000. Motco increased its stake in Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Elevance Health by 431.8% during the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after acquiring an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc boosted its position in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $370.77 on Monday. The stock has a market cap of $82.40 billion, a PE ratio of 15.16, a P/E/G ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a 50-day moving average price of $349.17 and a 200 day moving average price of $328.67. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Guggenheim lifted their price objective on shares of Elevance Health from $398.00 to $414.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $320.00 target price (down from $332.00) on shares of Elevance Health in a report on Friday, December 19th. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Finally, 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. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health 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.