Wesbanco Bank Inc. Sells 80 Shares of Elevance Health, Inc. (NYSE:ELV)

Wesbanco Bank Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,335 shares of the company’s stock after selling 80 shares during the quarter. Wesbanco Bank Inc.’s holdings in Elevance Health were worth $694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new stake in Elevance Health in the fourth quarter valued at about $137,000. Fisher Asset Management LLC boosted its stake in shares of Elevance Health by 20.8% in the 4th quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock valued at $424,000 after purchasing an additional 155 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $2,255,000. CWM LLC grew its holdings in shares of Elevance Health by 21.5% during the 1st quarter. CWM LLC now owns 7,365 shares of the company’s stock valued at $3,819,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Elevance Health during the 1st quarter worth approximately $158,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $496.99 on Thursday. The business has a 50-day moving average price of $530.38 and a two-hundred day moving average price of $528.62. Elevance Health, Inc. has a 1-year low of $437.42 and a 1-year high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market cap of $115.51 billion, a P/E ratio of 18.78, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter last year, the firm posted $9.04 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELV. Stephens reaffirmed an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. Wells Fargo & Company reduced their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Truist Financial increased their target price on Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Barclays boosted their price target on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $605.07.

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.