HF Advisory Group LLC Acquires 1,339 Shares of Elevance Health, Inc. (NYSE:ELV)

HF Advisory Group LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 35.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,070 shares of the company’s stock after buying an additional 1,339 shares during the period. HF Advisory Group LLC’s holdings in Elevance Health were worth $1,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter valued at about $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $44,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Price Performance

Shares of ELV opened at $384.26 on Friday. The business’s 50-day moving average is $388.02 and its two-hundred day moving average is $467.11. The company has a market capitalization of $89.12 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. 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 (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 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 for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ELV shares. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company dropped their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Barclays reduced their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One investment 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 stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average 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.