AMI Investment Management Inc. Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

AMI Investment Management Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 78.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,435 shares of the company's stock after acquiring an additional 1,947 shares during the period. AMI Investment Management Inc.'s holdings in Elevance Health were worth $1,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC increased its stake in shares of Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after buying an additional 656,344 shares during the period. Stifel Financial Corp increased its position in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock valued at $370,794,000 after purchasing an additional 538,978 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after purchasing an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Elevance Health by 6.9% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of analyst reports. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Mizuho cut their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their target price on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $536.53.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $1.00 during midday trading on Monday, reaching $384.26. 2,696,400 shares of the company were exchanged, compared to its average volume of 1,457,754. The stock has a market cap of $89.12 billion, a P/E 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 stock has a fifty day simple moving average of $388.02 and a 200 day simple moving average of $466.18. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company 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 company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $8.99 earnings per share. On average, research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

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.