Tamar Securities LLC Purchases 3,842 Shares of Elevance Health, Inc. (NYSE:ELV)

Tamar Securities LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 14.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 31,372 shares of the company’s stock after acquiring an additional 3,842 shares during the period. Elevance Health comprises 2.3% of Tamar Securities LLC’s investment portfolio, making the stock its 22nd largest holding. Tamar Securities LLC’s holdings in Elevance Health were worth $16,314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ELV. Massachusetts Financial Services Co. MA lifted its holdings in Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after buying an additional 523,910 shares in the last quarter. M&G Plc bought a new stake in Elevance Health during the 1st quarter valued at about $203,389,000. Maj Invest Holding A S bought a new stake in Elevance Health during the 2nd quarter valued at about $173,753,000. First Eagle Investment Management LLC lifted its holdings in Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Elevance Health during the 1st quarter valued at about $109,435,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 in the last three months. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ELV. Bank of America reiterated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Truist Financial lifted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Stephens reissued an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $605.07.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $496.99 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a 50 day simple moving average of $530.38 and a two-hundred day simple moving average of $528.62. Elevance Health, Inc. has a 12 month low of $437.42 and a 12 month high of $567.26. The stock has a market cap of $115.51 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.74 by ($1.37). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the firm earned $8.99 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

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.