Fiduciary Alliance LLC Acquires 4,338 Shares of Elevance Health, Inc. (NYSE:ELV)

Fiduciary Alliance LLC boosted its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 701.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,956 shares of the company's stock after purchasing an additional 4,338 shares during the period. Fiduciary Alliance LLC's holdings in Elevance Health were worth $1,828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ELV. Pathway Financial Advisers LLC boosted its stake in shares of Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock valued at $341,956,000 after buying an additional 656,344 shares during the period. Stifel Financial Corp increased its stake in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after purchasing an additional 538,978 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company's stock valued at $276,972,000 after buying an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Elevance Health by 34.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock valued at $1,117,698,000 after acquiring an additional 523,910 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after buying an additional 286,905 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company's stock.

Elevance Health Stock Performance

ELV stock traded down $3.28 during mid-day trading on Tuesday, hitting $393.21. 1,345,433 shares of the company were exchanged, compared to its average volume of 1,517,280. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business has a 50 day simple moving average of $390.97 and a 200-day simple moving average of $470.34. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $91.19 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Mizuho cut their target price on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Truist Financial lowered their price objective 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. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research report on Monday, October 21st. Morgan Stanley lowered their price target 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, StockNews.com cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has an average 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.