Greenfield Savings Bank Trims Holdings in Elevance Health, Inc. (NYSE:ELV)

Greenfield Savings Bank trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 7.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,943 shares of the company’s stock after selling 388 shares during the quarter. Greenfield Savings Bank’s holdings in Elevance Health were worth $1,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Pathway Financial Advisers LLC grew its position in shares of Elevance Health by 51,967.1% during the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after buying an additional 656,344 shares in the last quarter. Stifel Financial Corp increased its holdings in Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after buying an additional 538,978 shares during the last quarter. International Assets Investment Management LLC raised its stake in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares in the last quarter. 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 worth $1,117,698,000 after buying an additional 523,910 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after acquiring an additional 286,905 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Up 4.1 %

Shares of NYSE ELV opened at $396.84 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market capitalization of $92.04 billion, a PE ratio of 14.47, a P/E/G ratio of 1.15 and a beta of 0.84. The firm has a fifty day moving average of $390.97 and a 200-day moving average of $470.34.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the company earned $8.99 EPS. Elevance Health’s revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent analyst reports. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Truist Financial cut 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. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus 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.