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

Mutual Advisors LLC raised its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,370 shares of the company’s stock after buying an additional 345 shares during the period. Mutual Advisors LLC’s holdings in Elevance Health were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ELV. Nuveen LLC bought a new position in shares of Elevance Health in the first quarter valued at $789,943,000. Orbis Allan Gray Ltd lifted its stake in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after buying an additional 666,534 shares in the last quarter. Boston Partners lifted its stake in shares of Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after buying an additional 605,689 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after buying an additional 324,040 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Elevance Health from $330.00 to $412.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. The Goldman Sachs Group began coverage on shares of Elevance Health in a research report on Tuesday. They set a “neutral” rating and a $343.00 price target on the stock. Mizuho raised their price target on shares of Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, Sanford C. Bernstein dropped their price target on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $404.72.

Elevance Health Stock Performance

NYSE ELV opened at $348.93 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a 50-day simple moving average of $321.94 and a 200 day simple moving average of $355.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $78.57 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.59.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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). The company had revenue of $49.42 billion for 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 business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $10.12 EPS. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is owned by insiders.

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.