Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Czech National Bank

Czech National Bank lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,286 shares of the company's stock after acquiring an additional 3,049 shares during the period. Czech National Bank's holdings in Elevance Health were worth $18,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth about $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth about $31,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth about $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ELV shares. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Morgan Stanley dropped 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. Finally, Barclays dropped their target price on Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and an average target price of $536.53.

Elevance Health Price Performance

Elevance Health stock traded down $3.28 during midday trading on Tuesday, reaching $393.21. The company had a trading volume of 1,345,433 shares, compared to its average volume of 1,528,167. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm's fifty day simple moving average is $390.48 and its 200-day simple moving average is $469.30. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market capitalization of $91.19 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) 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 return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.