Elevance Health, Inc. $ELV Stock Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 36.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,301 shares of the company’s stock after selling 12,958 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Elevance Health were worth $8,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after acquiring an additional 1,588 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Elevance Health by 36.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company’s stock valued at $11,991,000 after acquiring an additional 7,410 shares during the period. CWA Asset Management Group LLC acquired a new position in Elevance Health in the first quarter valued at approximately $299,000. Stonegate Investment Group LLC acquired a new position in Elevance Health in the first quarter valued at approximately $201,000. Finally, Aspire Private Capital LLC acquired a new position in Elevance Health in the first quarter valued at approximately $282,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research reports. Mizuho lifted their target price on Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Robert W. Baird decreased their target price on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. The Goldman Sachs Group began coverage on Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price for the company. Sanford C. Bernstein reduced their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.72.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $348.93 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a 50 day simple moving average of $321.94 and a 200-day simple moving average of $355.13. The company has a market cap of $78.57 billion, a PE ratio of 14.85, a P/E/G ratio of 1.27 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned $10.12 earnings per share. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.

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.