SeaCrest Wealth Management LLC Has $773,000 Position in Elevance Health, Inc. (NYSE:ELV)

SeaCrest Wealth Management LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 10.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,096 shares of the company’s stock after selling 240 shares during the period. SeaCrest Wealth Management LLC’s holdings in Elevance Health were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Cypress Wealth Services LLC grew its stake in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after acquiring an additional 23 shares during the last quarter. Atomi Financial Group Inc. grew its position in Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares during the last quarter. Lifeworks Advisors LLC increased its holdings in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC raised its position in shares of Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after buying an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC lifted its stake in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after buying an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 1.1 %

Shares of ELV opened at $388.93 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $90.20 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.15 and a beta of 0.84. The stock has a fifty day moving average price of $390.48 and a two-hundred day moving average price of $469.30. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

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

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value 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. This trade represents a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ELV shares. StockNews.com cut Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Truist Financial decreased their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $536.53.

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.