Elevance Health, Inc. $ELV Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in Elevance Health, Inc. (NYSE:ELV) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,922 shares of the company’s stock after selling 2,695 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Elevance Health worth $46,645,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares during the period. Orbis Allan Gray Ltd raised its position in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after acquiring an additional 680,228 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after acquiring an additional 324,040 shares during the period. Invesco Ltd. raised its position in shares of Elevance Health by 1.2% in the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after acquiring an additional 24,833 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Elevance Health by 1.5% during the first quarter. Ameriprise Financial Inc. now owns 1,943,616 shares of the company’s stock worth $845,394,000 after purchasing an additional 29,174 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore acquired 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.2%

ELV stock opened at $348.93 on Friday. The company has a market cap of $78.57 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.27 and a beta of 0.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The firm has a 50-day moving average of $321.94 and a two-hundred day moving average of $356.32.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.12 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. UBS Group cut their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Argus reissued a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Finally, Mizuho boosted their target price on shares of Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $404.72.

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.