McElhenny Sheffield Capital Management LLC Sells 986 Shares of Elevance Health, Inc. (NYSE:ELV)

McElhenny Sheffield Capital Management LLC lessened its position in Elevance Health, Inc. (NYSE:ELV) by 63.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 560 shares of the company’s stock after selling 986 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Elevance Health were worth $207,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raelipskie Partnership bought a new position in Elevance Health in the third quarter worth approximately $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health in the 3rd quarter worth $27,000. Eastern Bank bought a new position in shares of Elevance Health during the 3rd quarter worth $31,000. Dunhill Financial LLC increased its stake 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 buying an additional 26 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Elevance Health in the third quarter valued at about $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada dropped their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial decreased their price target 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 on the stock in a research report on Monday, November 4th. Finally, UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Price Performance

NYSE:ELV opened at $384.26 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock’s 50-day moving average price is $388.02 and its 200-day moving average price is $467.11. The stock has a market capitalization 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 posted its quarterly earnings data 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 company 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 business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.99 earnings per share. As a group, equities analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Company Profile

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.