Financial Enhancement Group LLC Acquires 338 Shares of Elevance Health, Inc. (NYSE:ELV)

Financial Enhancement Group LLC lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,172 shares of the company’s stock after buying an additional 338 shares during the period. Financial Enhancement Group LLC’s holdings in Elevance Health were worth $465,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health during the 3rd quarter valued at $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health 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 value 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 approximately $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

ELV opened at $388.93 on Thursday. The firm has a market capitalization of $90.20 billion, a PE ratio of 14.18, a price-to-earnings-growth 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. The business’s 50-day moving average is $390.48 and its two-hundred day moving average is $469.30. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

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

Analysts Set New Price Targets

ELV has been the subject of several recent analyst reports. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays dropped their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, TD Cowen reduced their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. One equities 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, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.