Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 797 shares of the company’s stock after buying an additional 186 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Elevance Health were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in shares of Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after buying an additional 129,709 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Elevance Health by 1.8% during 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 shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares in the last quarter. Wellington Management Group LLP grew its position 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 buying an additional 286,905 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after buying an additional 190,118 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company 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. Cantor Fitzgerald lowered their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Barclays lowered their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Price Performance

Elevance Health stock opened at $388.93 on Thursday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50 day simple moving average of $390.48 and a 200-day simple moving average of $469.30. The stock has a market capitalization of $90.20 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the company earned $8.99 EPS. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

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.