Founders Grove Wealth Partners LLC Makes New $632,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Founders Grove Wealth Partners LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,712 shares of the company's stock, valued at approximately $632,000.

Several other institutional investors have also added to or reduced their stakes in ELV. State Street Corp boosted its stake in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock valued at $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC raised its holdings in Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock valued at $2,511,814,000 after acquiring an additional 85,770 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company's stock valued at $2,396,814,000 after acquiring an additional 44,805 shares during the period. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock worth $2,054,641,000 after purchasing an additional 190,118 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 1.1 %

Shares of NYSE:ELV traded down $4.23 during midday trading on Wednesday, hitting $388.93. 1,857,047 shares of the stock were exchanged, compared to its average volume of 1,564,704. The business's 50-day moving average price is $390.48 and its 200 day moving average price 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 debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $90.20 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly 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 analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $8.99 earnings per share. Analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 completion of the sale, the executive vice president now owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Argus downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. StockNews.com downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $536.53.

Elevance Health Company 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.