Greenup Street Wealth Management LLC Grows Stock Position in Elevance Health, Inc. $ELV

Greenup Street Wealth Management LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,960 shares of the company’s stock after purchasing an additional 161 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Elevance Health were worth $2,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Private Wealth Management Group LLC increased its position in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $29,000. North Capital Inc. purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $36,000. Saudi Central Bank purchased a new stake in shares of Elevance Health during the 1st quarter valued at about $40,000. Finally, Berbice Capital Management LLC bought a new position in shares of Elevance Health during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 1.6%

ELV stock opened at $354.33 on Tuesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $79.79 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.27 and a beta of 0.59. The business has a 50 day simple moving average of $323.21 and a two-hundred day simple moving average of $354.62.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Elevance Health in a research note on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective for the company. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Finally, Bank of America boosted their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $400.06.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.