Signet Financial Management LLC Sells 97 Shares of Elevance Health, Inc. (NYSE:ELV)

Signet Financial Management LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 873 shares of the company’s stock after selling 97 shares during the period. Signet Financial Management LLC’s holdings in Elevance Health were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Fiduciary Alliance LLC grew its position in shares of Elevance Health by 701.9% in the 4th quarter. Fiduciary Alliance LLC now owns 4,956 shares of the company’s stock worth $1,828,000 after buying an additional 4,338 shares during the last quarter. Czech National Bank grew its holdings in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after purchasing an additional 3,049 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Elevance Health by 56.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,322 shares of the company’s stock worth $488,000 after purchasing an additional 476 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Elevance Health by 3.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,166 shares of the company’s stock valued at $7,808,000 after purchasing an additional 739 shares during the last quarter. Finally, InvesTrust purchased a new stake in shares of Elevance Health during the 4th quarter valued at $649,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of ELV opened at $396.84 on Tuesday. The company has a market capitalization of $92.04 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.15 and a beta of 0.84. The business’s 50-day moving average is $390.97 and its two-hundred day moving average is $470.34. 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 fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the prior year, the business posted $8.99 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ELV shares. 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 note on Friday, October 18th. Cantor Fitzgerald dropped their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Morgan Stanley dropped their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $536.53.

Elevance Health 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.