Elevance Health, Inc. $ELV Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its position in Elevance Health, Inc. (NYSE:ELV) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,251 shares of the company’s stock after selling 30,803 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.13% of Elevance Health worth $92,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Canoe Financial LP lifted its stake in Elevance Health by 18.1% during the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after purchasing an additional 59,743 shares during the last quarter. Synergy Asset Management LLC raised its holdings in Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after purchasing an additional 52,167 shares in the last quarter. Delta Investment Management LLC purchased a new stake in shares of Elevance Health during the 3rd quarter worth approximately $7,629,000. OLD National Bancorp IN lifted its position in shares of Elevance Health by 44.8% during the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after buying an additional 1,939 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after buying an additional 790 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ELV. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Robert W. Baird raised their price objective on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Wolfe Research set a $425.00 target price on Elevance Health and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Sanford C. Bernstein reissued an “outperform” rating and issued a $431.00 target price on shares of Elevance Health in a report on Tuesday, January 6th. Finally, Wells Fargo & Company raised their price target on Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Twelve equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Price Performance

Elevance Health stock opened at $370.77 on Friday. 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 business has a 50 day simple moving average of $349.17 and a 200-day simple moving average of $328.94. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The stock has a market capitalization of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $8.37 EPS. Equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share 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.