Vest Financial LLC Reduces Position in Elevance Health, Inc. $ELV

Vest Financial LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 10.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,982 shares of the company’s stock after selling 10,817 shares during the period. Vest Financial LLC’s holdings in Elevance Health were worth $28,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Joel Isaacson & Co. LLC boosted its stake in shares of Elevance Health by 45.3% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,765 shares of the company’s stock valued at $570,000 after buying an additional 550 shares during the last quarter. Sage Mountain Advisors LLC raised its holdings in Elevance Health by 18.2% in the third quarter. Sage Mountain Advisors LLC now owns 1,848 shares of the company’s stock valued at $597,000 after acquiring an additional 285 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new position in Elevance Health during the 3rd quarter valued at $256,000. Americana Partners LLC acquired a new position in Elevance Health during the 3rd quarter worth $393,000. Finally, Professional Advisory Services Inc. increased its position in shares of Elevance Health by 1.6% in the 3rd quarter. Professional Advisory Services Inc. now owns 76,354 shares of the company’s stock worth $24,672,000 after purchasing an additional 1,170 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $431.00 price target on shares of Elevance Health in a research report on Tuesday, January 6th. Robert W. Baird increased their target price on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Mizuho set a $413.00 price target on Elevance Health in a report on Friday, January 9th. Bank of America upped their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Thirteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $400.85.

Elevance Health Price Performance

Shares of NYSE ELV opened at $368.27 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The firm has a market capitalization of $81.84 billion, a PE ratio of 15.05, a P/E/G ratio of 1.93 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The business’s fifty day moving average price is $346.57 and its two-hundred day moving average price is $328.18.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $8.37 EPS. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.