Elevance Health, Inc. $ELV Stock Bought by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,029 shares of the company’s stock after acquiring an additional 3,234 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Elevance Health were worth $36,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Mather Group LLC. lifted its position in shares of Elevance Health by 3.5% in the 3rd quarter. Mather Group LLC. now owns 766 shares of the company’s stock worth $298,000 after purchasing an additional 26 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Elevance Health by 64.8% in the 3rd quarter. Fortitude Family Office LLC now owns 178 shares of the company’s stock valued at $69,000 after purchasing an additional 70 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at $739,000. Salem Investment Counselors Inc. increased its position in shares of Elevance Health by 2.8% during the third quarter. Salem Investment Counselors Inc. now owns 1,451 shares of the company’s stock worth $564,000 after buying an additional 40 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Elevance Health by 20.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $647,000 after buying an additional 286 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Up 0.6%

NYSE:ELV opened at $427.64 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a 50-day moving average of $402.74 and a 200-day moving average of $384.60. The company has a market cap of $92.74 billion, a PE ratio of 19.01, a PEG ratio of 2.21 and a beta of 0.70. Elevance Health, Inc. has a one year low of $274.84 and a one year high of $436.24.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.84 EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 27.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Leerink Partners upped their price target on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Wells Fargo & Company decreased their price target on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $395.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $441.71.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.