NorthCrest Asset Manangement LLC Sells 32,854 Shares of Elevance Health, Inc. $ELV

NorthCrest Asset Manangement LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 95.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,465 shares of the company’s stock after selling 32,854 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Elevance Health were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. U.S. Capital Wealth Advisors LLC raised its position in shares of Elevance Health by 11.3% in 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 period. Fifth Third Bancorp raised its holdings in Elevance Health by 14.0% in the second quarter. Fifth Third Bancorp now owns 18,936 shares of the company’s stock worth $7,365,000 after purchasing an additional 2,329 shares during the period. Accurate Wealth Management LLC boosted its position in shares of Elevance Health by 4.9% during the second quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock worth $275,000 after purchasing an additional 33 shares in the last quarter. Regatta Capital Group LLC raised its stake in Elevance Health by 3.0% during the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after buying an additional 30 shares during the period. Finally, Retirement Guys Formula LLC raised its stake in Elevance Health by 0.9% during the 2nd quarter. Retirement Guys Formula LLC now owns 4,204 shares of the company’s stock worth $1,635,000 after buying an additional 37 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.6%

Shares of NYSE:ELV opened at $372.01 on Friday. The company’s 50-day moving average price is $348.27 and its two-hundred day moving average price is $328.77. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. 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 $82.68 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51.

Elevance Health (NYSE:ELV) last released its 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 net margin of 2.84% and a return on equity of 16.17%. The business 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. The firm’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research analyst reports. Mizuho set a $413.00 price objective on Elevance Health in a research report on Friday, January 9th. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. TD Cowen reissued a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $399.63.

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.