Premier Path Wealth Partners LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 730 shares of the company's stock after selling 662 shares during the period. Premier Path Wealth Partners LLC's holdings in Elevance Health were worth $269,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. Cypress Wealth Services LLC increased its position in Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock worth $353,000 after buying an additional 23 shares in the last quarter. Atomi Financial Group Inc. raised its stake in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company's stock valued at $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC lifted its position in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company's stock valued at $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock worth $477,000 after buying an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC increased its holdings in shares of Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock worth $906,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.
Elevance Health Stock Performance
ELV traded down $1.00 during trading 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 company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company's fifty day simple moving average is $388.02 and its 200-day simple moving average is $466.18. The stock has a market capitalization of $89.12 billion, a P/E 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 posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 3.68% and a return on equity of 19.56%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.99 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently commented on ELV shares. Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Stephens reissued an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Mizuho lowered their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average target price of $536.53.
Check Out Our Latest Stock Report on Elevance Health
Elevance Health Company Profile
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Free Report)
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.
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