Financial Enhancement Group LLC Acquires 338 Shares of Elevance Health, Inc. (NYSE:ELV)

Financial Enhancement Group LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 40.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,172 shares of the company’s stock after purchasing an additional 338 shares during the period. Financial Enhancement Group LLC’s holdings in Elevance Health were worth $465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Founders Grove Wealth Partners LLC bought a new position in shares of Elevance Health during the fourth quarter valued at $632,000. Kathmere Capital Management LLC bought a new position in Elevance Health during the 4th quarter valued at about $400,000. Board of the Pension Protection Fund purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $406,000. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Elevance Health by 6.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,353 shares of the company’s stock valued at $868,000 after acquiring an additional 147 shares during the last quarter. Finally, Pines Wealth Management LLC bought a new stake in shares of Elevance Health in the fourth quarter worth approximately $216,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ELV shares. StockNews.com downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald lowered their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Morgan Stanley lowered their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, 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 research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $536.53.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $388.93 on Thursday. The firm has a market cap of $90.20 billion, a P/E ratio of 14.18, a PEG ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a 50 day simple moving average of $390.48 and a two-hundred day simple moving average of $469.30. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous year, the company posted $8.99 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

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.