Eagle Global Advisors LLC Sells 2,532 Shares of Elevance Health, Inc. $ELV

Eagle Global Advisors LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,480 shares of the company’s stock after selling 2,532 shares during the quarter. Eagle Global Advisors LLC’s holdings in Elevance Health were worth $10,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Canoe Financial LP raised its position in shares of 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 buying an additional 59,743 shares in the last quarter. Synergy Asset Management LLC raised 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 lifted its stake in Elevance Health by 44.8% during the second quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after purchasing an additional 1,939 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Elevance Health by 3.9% during the 2nd 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 shares of Elevance Health by 14.3% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock valued at $5,508,000 after buying an additional 1,768 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

ELV stock opened at $372.80 on Thursday. The firm’s 50-day moving average price is $341.61 and its two-hundred day moving average price is $328.23. 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 $82.85 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.91 and a beta of 0.51. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analyst estimates 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 for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $8.37 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ELV. JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $431.00 price objective on shares of Elevance Health in a research note on Tuesday, January 6th. Truist Financial set a $400.00 target price on shares of Elevance Health in a research report on Tuesday, October 14th. Barclays upped their price target on shares of Elevance Health from $385.00 to $404.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Morgan Stanley decreased their price objective on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $400.85.

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.