Mutual Advisors LLC Purchases 345 Shares of Elevance Health, Inc. $ELV

Mutual Advisors LLC increased its position in Elevance Health, Inc. (NYSE:ELV) by 17.0% in the second quarter, Holdings Channel.com reports. The fund owned 2,370 shares of the company’s stock after acquiring an additional 345 shares during the quarter. Mutual Advisors LLC’s holdings in Elevance Health were worth $922,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Private Wealth Management Group LLC boosted its position in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC bought a new stake in Elevance Health during the first quarter valued at approximately $29,000. North Capital Inc. bought a new stake in Elevance Health during the first quarter valued at approximately $36,000. Saudi Central Bank bought a new stake in Elevance Health during the first quarter valued at approximately $40,000. Finally, Berbice Capital Management LLC bought a new stake in Elevance Health during the first quarter valued at approximately $43,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.2%

Shares of NYSE ELV opened at $348.93 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm’s fifty day moving average is $321.94 and its 200 day moving average is $355.81. The company has a market cap of $78.57 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.27 and a beta of 0.59.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analysts’ expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.12 earnings per share. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Analyst Ratings Changes

ELV has been the subject of several research analyst reports. Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Truist Financial set a $400.00 target price on shares of Elevance Health in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on shares of Elevance Health from $330.00 to $412.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Finally, Robert W. Baird dropped their target price on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $404.72.

Insider Transactions at Elevance Health

In related news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% 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.