Burney Co. Sells 498 Shares of Elevance Health, Inc. (NYSE:ELV)

Burney Co. lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,840 shares of the company’s stock after selling 498 shares during the quarter. Burney Co.’s holdings in Elevance Health were worth $2,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. Pathway Financial Advisers LLC boosted its stake in Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after acquiring an additional 656,344 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after purchasing an additional 538,978 shares during the period. International Assets Investment Management LLC boosted its position in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after purchasing an additional 334,552 shares during the period. Finally, Wellington Management Group LLP increased 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 valued at $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. TD Cowen decreased their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Trading Down 1.1 %

NYSE ELV opened at $388.93 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock has a market capitalization of $90.20 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.15 and a beta of 0.84. The stock’s 50 day moving average price is $390.48 and its two-hundred day moving average price is $469.30.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $8.99 EPS. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on 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 owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. 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 company insiders.

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.