Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Liberty One Investment Management LLC

Liberty One Investment Management LLC increased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,079 shares of the company’s stock after acquiring an additional 1,096 shares during the period. Liberty One Investment Management LLC’s holdings in Elevance Health were worth $3,349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 85,770 shares during the last quarter. Sanders Capital LLC boosted its position in 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 purchasing an additional 44,805 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 purchasing an additional 286,905 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after purchasing an additional 190,118 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 0.3 %

Shares of NYSE ELV opened at $384.26 on Friday. 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 1 year low of $362.21 and a 1 year high of $567.26. The stock’s 50-day simple moving average is $388.02 and its 200-day simple moving average is $467.11. The firm has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the prior year, the firm earned $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada dropped their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Morgan Stanley reduced their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.