Elevance Health, Inc. (NYSE:ELV) Shares Sold by Apella Capital LLC

Apella Capital LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,910 shares of the company’s stock after selling 26 shares during the quarter. Apella Capital LLC’s holdings in Elevance Health were worth $704,000 as of its most recent SEC filing.

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

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by insiders.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $388.93 on Thursday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The business’s 50-day moving average price is $390.48 and its two-hundred day moving average price is $469.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $90.20 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the business posted $8.99 EPS. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ELV. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company cut their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently 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.