Kathmere Capital Management LLC Makes New $400,000 Investment in Elevance Health, Inc. (NYSE:ELV)

Kathmere Capital Management LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,085 shares of the company's stock, valued at approximately $400,000.

Several other large investors have also added to or reduced their stakes in ELV. Pathway Financial Advisers LLC grew its holdings 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 worth $341,956,000 after acquiring an additional 656,344 shares during the period. Stifel Financial Corp grew its stake in Elevance Health by 309.7% in the third 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 period. International Assets Investment Management LLC raised its holdings in 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 worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after buying an additional 334,552 shares during the period. Finally, Wellington Management Group LLP boosted 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 valued at $2,320,024,000 after buying an additional 286,905 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, TD Cowen dropped their target price on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $536.53.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $1.00 during midday trading on Friday, hitting $384.26. 2,696,400 shares of the company's stock traded hands, compared to its average volume of 1,744,120. The firm has a fifty day moving average of $388.79 and a 200 day moving average of $468.15. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year 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 $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 (NYSE:ELV - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.99 earnings per share. On average, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share 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.