Grove Bank & Trust Purchases 2,008 Shares of Elevance Health, Inc. (NYSE:ELV)

Grove Bank & Trust boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 354.1% during the 4th quarter, HoldingsChannel reports. The firm owned 2,575 shares of the company’s stock after buying an additional 2,008 shares during the period. Grove Bank & Trust’s holdings in Elevance Health were worth $950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Elevance Health by 1.2% in the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after acquiring an additional 129,709 shares during the period. Geode Capital Management LLC boosted its position in Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after purchasing an additional 85,770 shares in the last quarter. Sanders Capital LLC grew its stake in Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after purchasing an additional 44,805 shares during the last quarter. Wellington Management Group LLP raised its holdings in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after buying an additional 190,118 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELV has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Mizuho lowered their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $384.26 on Monday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. 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 business’s 50 day moving average price is $388.02 and its 200 day moving average price is $466.63. The company has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84.

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

Elevance Health 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.