Elevance Health, Inc. (NYSE:ELV) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,197 shares of the company's stock after selling 1,659 shares during the period. Gateway Investment Advisers LLC's holdings in Elevance Health were worth $36,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter valued at about $26,000. PSI Advisors LLC purchased a new stake in Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC raised its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the third quarter worth $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $4.52 during trading on Thursday, reaching $384.77. 2,406,672 shares of the company's stock traded hands, compared to its average volume of 1,648,917. 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 fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a 50-day simple moving average of $389.68 and a 200-day simple moving average of $468.73. The firm has a market cap of $89.24 billion, a PE ratio of 14.03, a P/E/G ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 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 analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.99 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ELV. Mizuho cut 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 reduced their price objective on Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. UBS Group cut their price target on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Finally, Morgan Stanley decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.