Beverly Hills Private Wealth LLC Buys 994 Shares of Elevance Health, Inc. $ELV

Beverly Hills Private Wealth LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,546 shares of the company’s stock after purchasing an additional 994 shares during the quarter. Elevance Health comprises approximately 1.1% of Beverly Hills Private Wealth LLC’s investment portfolio, making the stock its 17th biggest position. Beverly Hills Private Wealth LLC’s holdings in Elevance Health were worth $5,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC boosted its position in Elevance Health by 3.9% during the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares during the period. CWA Asset Management Group LLC bought a new position in Elevance Health during the first quarter worth $299,000. Dynamic Advisor Solutions LLC boosted its position in Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after purchasing an additional 817 shares during the period. Focus Partners Wealth boosted its position in Elevance Health by 4.6% during the first quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after purchasing an additional 982 shares during the period. Finally, Asio Capital LLC lifted its holdings in shares of Elevance Health by 7.1% during the second quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock worth $5,979,000 after buying an additional 1,015 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Truist Financial set a $400.00 target price on Elevance Health in a report on Tuesday, October 14th. Morgan Stanley lifted their target price on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Barclays boosted their price target on Elevance Health from $373.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Guggenheim boosted their price target on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $404.72.

Elevance Health Stock Performance

Elevance Health stock opened at $348.93 on Monday. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $321.94 and its two-hundred day moving average price is $355.13. The stock has a market cap of $78.57 billion, a PE ratio of 14.85, a P/E/G ratio of 1.27 and a beta of 0.59.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. The business’s revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Company Profile

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.