Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Professional Financial Advisors LLC

Professional Financial Advisors LLC boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 19.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,851 shares of the company’s stock after acquiring an additional 471 shares during the quarter. Professional Financial Advisors LLC’s holdings in Elevance Health were worth $1,052,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Cypress Wealth Services LLC grew its holdings in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares in the last quarter. Atomi Financial Group Inc. raised its position in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after acquiring an additional 25 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC increased its position in Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after buying an additional 26 shares during the period. Finally, Fullcircle Wealth LLC raised its stake in Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after purchasing an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 4.1 %

Shares of NYSE ELV opened at $396.84 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company’s 50 day moving average price is $390.97 and its 200-day moving average price is $470.34. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a market capitalization of $92.04 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the company earned $8.99 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays lowered their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $536.53.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Elevance Health Company Profile

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.