Clear Harbor Asset Management LLC Acquires 1,633 Shares of Elevance Health, Inc. (NYSE:ELV)

Clear Harbor Asset Management LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 110.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,114 shares of the company’s stock after purchasing an additional 1,633 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Elevance Health were worth $1,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ELV. State Street Corp increased its stake in Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC increased its position in shares of Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after acquiring an additional 85,770 shares during the period. Sanders Capital LLC boosted its holdings in shares of Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP grew its stake in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after purchasing an additional 190,118 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Up 1.1 %

NYSE ELV opened at $389.45 on Wednesday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a fifty day simple moving average of $387.20 and a two-hundred day simple moving average of $465.15. 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 market cap of $90.32 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.09 and a beta of 0.84.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ELV shares. Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, Cantor Fitzgerald reduced 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 note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average 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.