Eagle Rock Investment Company LLC Sells 7,147 Shares of Elevance Health, Inc. (NYSE:ELV)

Eagle Rock Investment Company LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 50.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,922 shares of the company's stock after selling 7,147 shares during the quarter. Eagle Rock Investment Company LLC's holdings in Elevance Health were worth $2,553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cypress Wealth Services LLC increased its holdings in Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock worth $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company's stock worth $320,000 after purchasing an additional 25 shares during the period. Lifeworks Advisors LLC increased its holdings in shares of Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock worth $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC raised its position in shares of Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock worth $477,000 after buying an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC boosted its stake in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock valued at $906,000 after buying an additional 26 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ELV. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Barclays lowered their target price on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley cut their price target on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Argus cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given 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 target price of $536.53.

Elevance Health Trading Down 0.3 %

ELV traded down $1.00 during trading on Friday, hitting $384.26. 2,696,400 shares of the stock traded hands, compared to its average volume of 1,744,120. The firm has a market capitalization of $89.12 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. 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 has a 50-day moving average of $388.79 and a 200 day moving average of $468.15.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $8.99 earnings per share. Equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current 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.