Elevance Health, Inc. (NYSE:ELV) Stake Lifted by Claro Advisors LLC

Claro Advisors LLC boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 14,229.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,737 shares of the company’s stock after purchasing an additional 101,027 shares during the quarter. Elevance Health comprises 5.1% of Claro Advisors LLC’s portfolio, making the stock its 3rd largest position. Claro Advisors LLC’s holdings in Elevance Health were worth $52,903,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC raised its position in Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the period. Bedel Financial Consulting Inc. grew its position in Elevance Health by 1.6% in the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after acquiring an additional 20 shares in the last quarter. American Trust raised its stake in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares during the period. Fiduciary Alliance LLC lifted its position in shares of Elevance Health by 3.6% during the first quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after purchasing an additional 21 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its stake in shares of Elevance Health by 1.8% in the first quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock valued at $619,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald decreased their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial reaffirmed a “buy” rating and issued a $520.00 price objective (down previously from $620.00) on shares of Elevance Health in a report on Friday. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stephens reiterated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $582.07.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $8.80 during mid-day trading on Friday, reaching $435.55. 400,776 shares of the stock were exchanged, compared to its average volume of 1,064,115. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market cap of $101.23 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The firm has a 50-day simple moving average of $528.77 and a 200 day simple moving average of $528.05. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $8.99 earnings per share. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.