FNY Investment Advisers LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

FNY Investment Advisers LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,149 shares of the company’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fiduciary Alliance LLC increased its stake in Elevance Health by 701.9% in the 4th quarter. Fiduciary Alliance LLC now owns 4,956 shares of the company’s stock worth $1,828,000 after purchasing an additional 4,338 shares during the period. Czech National Bank grew its holdings in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after acquiring an additional 3,049 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Elevance Health by 56.3% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,322 shares of the company’s stock valued at $488,000 after acquiring an additional 476 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Elevance Health by 3.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,166 shares of the company’s stock valued at $7,808,000 after acquiring an additional 739 shares during the last quarter. Finally, InvesTrust bought a new stake in shares of Elevance Health in the fourth quarter worth about $649,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ELV shares. UBS Group reduced their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $536.53.

Elevance Health Trading Up 4.1 %

Shares of NYSE:ELV opened at $396.84 on Tuesday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The stock’s fifty day moving average price is $390.97 and its 200-day moving average price is $470.34. The company has a market cap of $92.04 billion, a P/E ratio of 14.47, a PEG ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.99 EPS. Sell-side analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by corporate insiders.

Elevance Health Company Profile

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.