Locust Wood Capital Advisers LLC Sells 260,954 Shares of Elevance Health, Inc. $ELV

Locust Wood Capital Advisers LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 64.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,171 shares of the company’s stock after selling 260,954 shares during the period. Elevance Health comprises approximately 1.2% of Locust Wood Capital Advisers LLC’s holdings, making the stock its 29th largest position. Locust Wood Capital Advisers LLC owned about 0.06% of Elevance Health worth $46,262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC boosted its position in shares of Elevance Health by 11.3% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 589 shares of the company’s stock valued at $229,000 after acquiring an additional 60 shares during the last quarter. Opal Wealth Advisors LLC increased its stake in Elevance Health by 579.2% in the second quarter. Opal Wealth Advisors LLC now owns 360 shares of the company’s stock worth $140,000 after purchasing an additional 307 shares during the period. Revisor Wealth Management LLC purchased a new stake in Elevance Health in the 2nd quarter valued at about $294,000. Forte Capital LLC ADV grew its stake in Elevance Health by 8.8% in the second quarter. Forte Capital LLC ADV now owns 745 shares of the company’s stock worth $290,000 after purchasing an additional 60 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Elevance Health by 14.0% during the second quarter. Fifth Third Bancorp now owns 18,936 shares of the company’s stock valued at $7,365,000 after buying an additional 2,329 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 price target (down from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Bank of America boosted their price target on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Barclays raised their price target on shares of Elevance Health from $385.00 to $404.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Stock Performance

Shares of ELV stock opened at $369.28 on Thursday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market cap of $82.07 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.89 and a beta of 0.51. The business has a 50-day simple moving average of $347.39 and a 200-day simple moving average of $328.47.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period last year, the business earned $8.37 earnings per share. Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

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.