Krilogy Financial LLC Purchases 1,370 Shares of Elevance Health, Inc. $ELV

Krilogy Financial LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 79.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the company’s stock after purchasing an additional 1,370 shares during the period. Krilogy Financial LLC’s holdings in Elevance Health were worth $1,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELV. BlackRock Inc. purchased a new position in Elevance Health in the second quarter valued at $7,344,424,000. Bank of New York Mellon Corp acquired a new stake in Elevance Health in the second quarter valued at $1,246,349,000. Legal & General Group Plc acquired a new stake in Elevance Health in the second quarter valued at $688,469,000. Amundi lifted its holdings in Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock worth $788,570,000 after buying an additional 1,597,497 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Elevance Health during the 2nd quarter worth about $591,084,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELV. TD Cowen upped their price objective on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Truist Financial boosted their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays upped their price target on Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $441.71.

Elevance Health Trading Up 0.2%

ELV opened at $429.13 on Friday. The firm has a market cap of $93.06 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The business’s 50 day moving average is $403.50 and its two-hundred day moving average is $385.61. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.84 earnings per share. On average, research analysts predict that Elevance Health, Inc. will post 27.22 EPS for the current year.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.