Trivant Custom Portfolio Group LLC Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Trivant Custom Portfolio Group LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,237 shares of the company’s stock after selling 81 shares during the period. Elevance Health makes up approximately 1.3% of Trivant Custom Portfolio Group LLC’s holdings, making the stock its 25th largest holding. Trivant Custom Portfolio Group LLC’s holdings in Elevance Health were worth $2,301,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ELV. State Street Corp boosted its stake in shares of Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after purchasing an additional 129,709 shares during the period. Geode Capital Management LLC boosted its position in Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after buying an additional 85,770 shares during the period. Sanders Capital LLC increased its position in shares of Elevance Health by 1.0% in the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after acquiring an additional 44,805 shares during the period. Wellington Management Group LLP raised its stake in shares of Elevance Health by 6.9% during 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 acquiring an additional 286,905 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after purchasing an additional 190,118 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ELV shares. Barclays reduced their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada decreased their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, 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 research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $384.26 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $388.79 and a two-hundred day simple moving average of $468.15. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market capitalization of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84.

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

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.