Romano Brothers AND Company Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Romano Brothers AND Company lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,162 shares of the company’s stock after selling 38 shares during the period. Romano Brothers AND Company’s holdings in Elevance Health were worth $798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. HF Advisory Group LLC lifted its position in shares of Elevance Health by 35.9% during the fourth quarter. HF Advisory Group LLC now owns 5,070 shares of the company’s stock worth $1,870,000 after acquiring an additional 1,339 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Elevance Health by 11.5% during the 4th quarter. Arkadios Wealth Advisors now owns 1,107 shares of the company’s stock valued at $408,000 after purchasing an additional 114 shares during the period. Canoe Financial LP lifted its holdings in Elevance Health by 53.5% during the 4th quarter. Canoe Financial LP now owns 524,531 shares of the company’s stock worth $193,499,000 after purchasing an additional 182,807 shares in the last quarter. DB Fitzpatrick & Co Inc boosted its stake in Elevance Health by 14.4% in the 4th quarter. DB Fitzpatrick & Co Inc now owns 4,616 shares of the company’s stock worth $1,703,000 after purchasing an additional 581 shares during the period. Finally, Professional Advisory Services Inc. grew its holdings in Elevance Health by 35.4% during the 4th quarter. Professional Advisory Services Inc. now owns 77,269 shares of the company’s stock valued at $28,505,000 after buying an additional 20,200 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $384.26 on Friday. The company 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. The business has a 50 day moving average of $388.02 and a 200 day moving average of $467.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELV. Wells Fargo & Company lowered their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Barclays lowered their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reduced their price target 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. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Company 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.