365 WMG Private Fund I Primus Fund LLC purchased a new stake in Elevance Health, Inc. (NYSE:ELV – Free Report) in the 3rd quarter, Holdings Channel reports. The firm purchased 2,393 shares of the company’s stock, valued at approximately $930,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Elevance Health in the 2nd quarter valued at $7,344,424,000. State Street Corp lifted its holdings in Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after acquiring an additional 137,914 shares in the last quarter. Wellington Management Group LLP grew its stake in Elevance Health by 12.0% in the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after acquiring an additional 984,976 shares during the period. First Eagle Investment Management LLC grew its stake in Elevance Health by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock valued at $1,619,701,000 after acquiring an additional 55,905 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Elevance Health in the second quarter valued at about $1,246,349,000. Institutional investors and hedge funds own 89.24% of the company’s stock.
Elevance Health Trading Up 2.2%
ELV opened at $439.57 on Wednesday. The stock has a market capitalization of $95.33 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.24 and a beta of 0.70. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $440.67. The firm’s fifty day simple moving average is $405.84 and its 200 day simple moving average is $388.57. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.
Elevance Health (NYSE:ELV – Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion during the quarter, compared to analyst estimates of $49.22 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. As a group, research analysts anticipate that Elevance Health, Inc. will post 27.20 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have recently commented on ELV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Robert W. Baird boosted their price objective on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. TD Cowen increased their target price on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays increased their target price on Elevance Health from $457.00 to $469.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $441.71.
View Our Latest Stock Report on Elevance Health
About Elevance Health
Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.
Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.
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