Steigerwald Gordon & Koch Inc. Acquires 1,222 Shares of Elevance Health, Inc. (NYSE:ELV)

Steigerwald Gordon & Koch Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,453 shares of the company’s stock after buying an additional 1,222 shares during the period. Elevance Health accounts for about 1.9% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 24th biggest holding. Steigerwald Gordon & Koch Inc.’s holdings in Elevance Health were worth $16,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELV. Blair William & Co. IL grew its stake in Elevance Health by 21.6% in the 2nd quarter. Blair William & Co. IL now owns 14,756 shares of the company’s stock valued at $7,995,000 after buying an additional 2,622 shares during the last quarter. MQS Management LLC acquired a new position in shares of Elevance Health in the second quarter valued at approximately $217,000. Ieq Capital LLC grew its position in shares of Elevance Health by 16.7% in the second quarter. Ieq Capital LLC now owns 9,787 shares of the company’s stock valued at $5,304,000 after purchasing an additional 1,404 shares during the last quarter. Callan Capital LLC lifted its holdings in Elevance Health by 83.4% during the 2nd quarter. Callan Capital LLC now owns 860 shares of the company’s stock worth $466,000 after purchasing an additional 391 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake in Elevance Health by 13.9% in the 2nd quarter. AE Wealth Management LLC now owns 5,205 shares of the company’s stock valued at $2,820,000 after purchasing an additional 637 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $384.26 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock’s 50-day simple moving average is $388.02 and its 200 day simple moving average is $467.11. The firm has a market capitalization of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.99 earnings per share. On average, analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Barclays cut their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada cut their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Cantor Fitzgerald lowered their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.