ZWJ Investment Counsel Inc. Purchases 3,234 Shares of Elevance Health, Inc. $ELV

ZWJ Investment Counsel Inc. lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% during the third quarter, Holdings Channel reports. The firm owned 93,029 shares of the company’s stock after acquiring an additional 3,234 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Elevance Health were worth $36,172,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Elevance Health in the 2nd quarter worth about $7,344,424,000. State Street Corp boosted its stake in shares of Elevance Health by 1.3% in the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after buying an additional 137,914 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after buying an additional 984,976 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after buying an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock valued at $1,619,701,000 after acquiring an additional 55,905 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on ELV shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Cantor Fitzgerald boosted their price objective on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Truist Financial upped their price objective on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research note on Tuesday, July 7th. Finally, Robert W. Baird raised their target price on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $441.71.

Elevance Health Stock Up 0.6%

ELV opened at $427.64 on Thursday. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company’s 50-day moving average price is $402.74 and its two-hundred day moving average price is $384.60. The stock has a market cap of $92.74 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.21 and a beta of 0.70. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter last year, the business posted $8.84 EPS. Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts expect that Elevance Health, Inc. will post 27.22 earnings per share for the current year.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.