Elevance Health, Inc. $ELV Stock Position Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 70,469 shares of the company’s stock after selling 4,644 shares during the period. Nisa Investment Advisors LLC’s holdings in Elevance Health were worth $27,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Activest Wealth Management boosted its stake in Elevance Health by 146.2% during the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock valued at $25,000 after purchasing an additional 38 shares during the last quarter. Kilter Group LLC bought a new stake in Elevance Health during the 2nd quarter worth approximately $28,000. WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Finally, Tacita Capital Inc purchased a new stake in shares of Elevance Health in the second quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 2.2%

Elevance Health stock opened at $439.57 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $440.67. The stock has a market cap of $95.33 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.70. The firm’s 50-day simple moving average is $405.84 and its 200 day simple moving average is $388.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ELV shares. Barclays raised their target price on Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Wells Fargo & Company decreased their price target on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Raymond James Financial set a $450.00 price target on Elevance Health in a report on Tuesday, July 7th. Leerink Partners increased their price target on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, Cantor Fitzgerald raised their price objective on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.71.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.