Grove Bank & Trust Has $950,000 Position in Elevance Health, Inc. (NYSE:ELV)

Grove Bank & Trust boosted its position in Elevance Health, Inc. (NYSE:ELV) by 354.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,575 shares of the company’s stock after purchasing an additional 2,008 shares during the quarter. Grove Bank & Trust’s holdings in Elevance Health were worth $950,000 at the end of the most recent reporting period.

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

Elevance Health Trading Down 0.3 %

Shares of Elevance Health stock opened at $384.26 on Monday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company’s fifty day simple moving average is $388.02 and its 200-day simple moving average is $466.63. 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 stock has a market capitalization of $89.12 billion, a PE ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 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 for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the business posted $8.99 EPS. Elevance Health’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ELV shares. UBS Group dropped their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada cut their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. TD Cowen cut their target price 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. Finally, Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.