Artemis Investment Management LLP Has $8.59 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Artemis Investment Management LLP trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 87.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,290 shares of the company's stock after selling 166,974 shares during the period. Artemis Investment Management LLP's holdings in Elevance Health were worth $8,592,000 at the end of the most recent reporting period.

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

Elevance Health Stock Down 0.3 %

Shares of ELV traded down $1.00 during mid-day trading on Monday, hitting $384.26. 2,696,400 shares of the company's stock were exchanged, compared to its average volume of 1,457,754. The stock has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84. The firm has a fifty day moving average of $388.02 and a two-hundred day moving average of $466.18. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $8.99 earnings per share. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ELV shares. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Stephens reissued an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. TD Cowen decreased their target price 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. Morgan Stanley cut their price target on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, Truist Financial lowered their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.