Premier Path Wealth Partners LLC Has $269,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Premier Path Wealth Partners LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 47.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 730 shares of the company’s stock after selling 662 shares during the period. Premier Path Wealth Partners LLC’s holdings in Elevance Health were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ELV. Raelipskie Partnership bought a new position in shares of Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter valued at $27,000. Eastern Bank bought a new position in shares of Elevance Health in the third quarter valued at about $31,000. Dunhill Financial LLC lifted its position in 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 buying an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in Elevance Health during the 3rd quarter worth about $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.3 %

Elevance Health stock opened at $384.26 on Monday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $388.02 and a 200-day moving average of $466.63. 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 issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the firm earned $8.99 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial dropped their price objective 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. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Cantor Fitzgerald dropped their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. One research 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, 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.