SG Americas Securities LLC Sells 105,403 Shares of Elevance Health, Inc. $ELV

SG Americas Securities LLC lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 96.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,712 shares of the company’s stock after selling 105,403 shares during the period. SG Americas Securities LLC’s holdings in Elevance Health were worth $1,199,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ELV. Canoe Financial LP boosted its position in Elevance Health by 18.1% during the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after acquiring an additional 59,743 shares in the last quarter. Synergy Asset Management LLC boosted its position in Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares in the last quarter. OLD National Bancorp IN grew its stake in Elevance Health by 44.8% in the second quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock valued at $2,438,000 after purchasing an additional 1,939 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA raised its holdings in Elevance Health by 14.3% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock worth $5,508,000 after purchasing an additional 1,768 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELV. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Guggenheim raised their target price on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Barclays upped their price target on Elevance Health from $385.00 to $404.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.85.

Elevance Health Trading Down 1.9%

Shares of NYSE:ELV opened at $374.86 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock has a market cap of $83.31 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.93 and a beta of 0.51. The business has a 50-day moving average price of $344.10 and a 200-day moving average price of $328.03.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the prior year, the firm earned $8.37 earnings per share. Elevance Health’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.