Board of the Pension Protection Fund Acquires Shares of 1,100 Elevance Health, Inc. (NYSE:ELV)

Board of the Pension Protection Fund bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,100 shares of the company’s stock, valued at approximately $406,000.

Other hedge funds have also modified their holdings of the company. Raelipskie Partnership purchased a new stake in Elevance Health during the 3rd quarter valued at about $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $31,000. Dunhill Financial LLC lifted its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health in the 3rd quarter valued at $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.8 %

NYSE:ELV opened at $393.21 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market cap of $91.19 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $390.48 and a 200 day moving average price of $469.30.

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

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ELV. Royal Bank of Canada lowered 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. Mizuho dropped their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald lowered their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

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.