Alpha DNA Investment Management LLC Increases Stake in Elevance Health, Inc. (NYSE:ELV)

Alpha DNA Investment Management LLC raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,655 shares of the company's stock after acquiring an additional 645 shares during the quarter. Alpha DNA Investment Management LLC's holdings in Elevance Health were worth $1,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tobam lifted its holdings in shares of Elevance Health by 6.6% during the fourth quarter. Tobam now owns 434 shares of the company's stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Jacobi Capital Management LLC raised its stake in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock valued at $325,000 after buying an additional 27 shares during the last quarter. Austin Private Wealth LLC boosted its holdings in Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Quent Capital LLC grew its stake in shares of Elevance Health by 2.1% in the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock worth $549,000 after acquiring an additional 30 shares during the last quarter. Finally, RDA Financial Network increased its holdings in shares of Elevance Health by 0.5% during the fourth quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on ELV. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Mizuho increased their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Barclays upped their price objective on Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a research report on Monday, March 17th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $509.44.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Elevance Health Price Performance

ELV stock traded up $13.15 during trading on Wednesday, reaching $429.05. The company's stock had a trading volume of 643,504 shares, compared to its average volume of 1,446,264. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company's fifty day moving average is $417.66 and its 200-day moving average is $409.25. The company has a market capitalization of $97.13 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. On average, research analysts expect that Elevance Health, Inc. will post 33.96 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.