Claro Advisors LLC Trims Stake in Elevance Health, Inc. (NYSE:ELV)

Claro Advisors LLC cut its stake in shares of Elevance Health, Inc. (NYSE:ELVFree Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 975 shares of the company’s stock after selling 31 shares during the period. Claro Advisors LLC’s holdings in Elevance Health were worth $360,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Raelipskie Partnership purchased a new position in shares of Elevance Health during the 3rd quarter valued at about $26,000. PSI Advisors LLC purchased a new position in Elevance Health during the third quarter valued at approximately $27,000. Eastern Bank bought a new position in shares of Elevance Health in the third quarter worth approximately $31,000. Dunhill Financial LLC increased its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Elevance Health during the 3rd quarter valued at $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $393.21 on Wednesday. The firm has a 50-day simple moving average of $390.48 and a two-hundred day simple moving average of $469.30. 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, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a market cap of $91.19 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELVGet Free Report) last announced its 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the business earned $8.99 earnings per share. Elevance Health’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were 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 of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ELV. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research report on Friday, October 18th. Barclays reduced their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $536.53.

Read Our Latest Stock Analysis on ELV

Elevance Health Profile

(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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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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