Liberty One Investment Management LLC Increases Position in Elevance Health, Inc. (NYSE:ELV)

Liberty One Investment Management LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,079 shares of the company’s stock after purchasing an additional 1,096 shares during the quarter. Liberty One Investment Management LLC’s holdings in Elevance Health were worth $3,349,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC purchased a new stake in Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank purchased a new stake in Elevance Health during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC raised its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the third quarter valued at approximately $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.3 %

NYSE:ELV opened at $384.26 on Friday. The stock has a fifty day moving average price of $388.02 and a 200 day moving average price of $467.11. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market cap of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84.

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). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $8.99 earnings per share. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ELV shares. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. UBS Group cut their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. 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 research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.