Trueblood Wealth Management LLC Sells 213 Shares of Elevance Health, Inc. (NYSE:ELV)

Trueblood Wealth Management LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,364 shares of the company’s stock after selling 213 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Elevance Health were worth $872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. MQS Management LLC acquired a new stake in Elevance Health during the second quarter valued at approximately $217,000. AE Wealth Management LLC increased its position in Elevance Health by 13.9% in the second quarter. AE Wealth Management LLC now owns 5,205 shares of the company’s stock worth $2,820,000 after purchasing an additional 637 shares during the period. Sei Investments Co. raised its stake in shares of Elevance Health by 10.2% during the second quarter. Sei Investments Co. now owns 123,872 shares of the company’s stock worth $67,117,000 after buying an additional 11,513 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Elevance Health by 5.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 60,115 shares of the company’s stock valued at $32,574,000 after purchasing an additional 2,862 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its holdings in Elevance Health by 35,527.3% during the second quarter. Frank Rimerman Advisors LLC now owns 3,919 shares of the company’s stock worth $2,124,000 after buying an additional 3,908 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Down 0.3 %

NYSE ELV opened at $384.26 on Monday. The company has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. 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 company has a 50 day moving average of $388.02 and a 200-day moving average of $466.63.

Elevance Health (NYSE:ELV) last released 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 net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the company posted $8.99 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health 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.