McElhenny Sheffield Capital Management LLC Has $207,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

McElhenny Sheffield Capital Management LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 63.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 560 shares of the company's stock after selling 986 shares during the period. McElhenny Sheffield Capital Management LLC's holdings in Elevance Health were worth $207,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 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 purchasing an additional 656,344 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after acquiring an additional 538,978 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after acquiring an additional 334,552 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Elevance Health by 6.9% in 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 during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of NYSE ELV traded down $1.00 during midday trading on Friday, reaching $384.26. 2,696,400 shares of the company were exchanged, compared to its average volume of 1,457,754. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The stock's 50-day moving average price is $388.02 and its 200-day moving average price is $466.63. 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 stock has a market cap of $89.12 billion, a P/E ratio of 14.01, a PEG 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 (EPS) 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 the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.99 EPS. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ELV shares. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Truist Financial cut their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $536.53.

About Elevance Health

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.