Grove Bank & Trust Boosts Holdings in Elevance Health, Inc. (NYSE:ELV)

Grove Bank & Trust increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 354.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,575 shares of the company's stock after acquiring an additional 2,008 shares during the quarter. Grove Bank & Trust's holdings in Elevance Health were worth $950,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its position in shares of Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company's stock worth $341,956,000 after purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp boosted its stake in 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 position in shares of Elevance Health by 85,533.1% in 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock worth $1,246,574,000 after buying an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock worth $2,320,024,000 after acquiring an additional 286,905 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on ELV shares. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. Stephens reissued an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and an average target price of $536.53.

Elevance Health Trading Down 0.3 %

NYSE:ELV traded down $1.00 on Monday, reaching $384.26. 2,696,400 shares of the company's stock were exchanged, compared to its average volume of 1,457,754. The firm has a market capitalization of $89.12 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $388.02 and a 200-day moving average of $466.18.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate 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%. Elevance Health's revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $8.99 EPS. As a group, analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

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.