Lmcg Investments LLC Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Lmcg Investments LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 3.0% in the fourth quarter, Holdings Channel reports. The fund owned 19,401 shares of the company’s stock after selling 597 shares during the period. Lmcg Investments LLC’s holdings in Elevance Health were worth $7,157,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. ZWJ Investment Counsel Inc. lifted its position in shares of Elevance Health by 7.9% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 117,726 shares of the company’s stock worth $43,429,000 after buying an additional 8,664 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in Elevance Health by 3.4% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,061 shares of the company’s stock worth $391,000 after acquiring an additional 35 shares in the last quarter. AMI Investment Management Inc. lifted its position in Elevance Health by 78.3% in the fourth quarter. AMI Investment Management Inc. now owns 4,435 shares of the company’s stock valued at $1,636,000 after acquiring an additional 1,947 shares during the last quarter. UMB Bank n.a. boosted its stake in Elevance Health by 11.0% in the fourth quarter. UMB Bank n.a. now owns 2,752 shares of the company’s stock valued at $1,015,000 after acquiring an additional 273 shares in the last quarter. Finally, Willner & Heller LLC grew its holdings in shares of Elevance Health by 4.8% during the fourth quarter. Willner & Heller LLC now owns 2,092 shares of the company’s stock worth $772,000 after purchasing an additional 95 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ELV shares. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. TD Cowen decreased their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $384.26 on Tuesday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market capitalization of $89.12 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The business’s 50 day simple moving average is $388.02 and its 200-day simple moving average is $466.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

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.