HB Wealth Management LLC Sells 719 Shares of Elevance Health, Inc. (NYSE:ELV)

HB Wealth Management LLC reduced its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,951 shares of the company's stock after selling 719 shares during the quarter. HB Wealth Management LLC's holdings in Elevance Health were worth $5,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its position in shares of Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company's stock valued at $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC boosted its stake in Elevance Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company's stock worth $2,511,814,000 after buying an additional 85,770 shares in the last quarter. Sanders Capital LLC grew its position in Elevance Health by 1.0% during the third 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 last quarter. Wellington Management Group LLP raised its stake in shares of 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 in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock worth $2,054,641,000 after acquiring an additional 190,118 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ELV shares. Morgan Stanley reduced their target price on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Argus downgraded Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. Mizuho dropped their target price on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Stephens restated an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $536.53.

Elevance Health Stock Down 0.3 %

Shares of NYSE ELV traded down $1.00 during mid-day trading on Friday, hitting $384.26. 2,696,400 shares of the stock traded hands, compared to its average volume of 1,457,754. The company has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. The stock has a fifty day moving average price of $388.02 and a 200-day moving average price of $466.63. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week 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.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. During the same period in the prior year, the company earned $8.99 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. 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.