National Wealth Management Group LLC Makes New Investment in Elevance Health, Inc. $ELV

National Wealth Management Group LLC acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,420 shares of the company’s stock, valued at approximately $459,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC raised its stake in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Elevance Health in the second quarter valued at approximately $32,000. Glass Jacobson Investment Advisors llc raised its stake in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the last quarter. Motco lifted its holdings in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Elevance Health in the 2nd quarter worth $43,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 1.7%

ELV opened at $377.52 on Tuesday. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The business has a 50-day moving average of $350.10 and a two-hundred day moving average of $328.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $83.90 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating and set a $431.00 target price on shares of Elevance Health in a research report on Tuesday, January 6th. Truist Financial set a $400.00 price objective on Elevance Health in a research note on Tuesday, October 14th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $320.00 price target (down previously from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $399.63.

Elevance Health Company Profile

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.