2,393 Shares in Elevance Health, Inc. $ELV Bought by 365 WMG Private Fund I Primus Fund LLC

Key Points

• 365 WMG Private Fund I Primus Fund LLC acquired 2,393 Elevance Health shares in the third quarter, worth approximately $930,000. Institutional investors collectively own 89.24% of the company.
• Elevance Health reported quarterly earnings of $6.99 per share, exceeding analyst expectations of $4.71, while revenue reached $50.44 billion versus the $49.22 billion consensus estimate.
• ELV shares rose 2.2% to $439.57, near their 12-month high. Analysts maintain a “Moderate Buy” consensus, with an average price target of $441.71.

365 WMG Private Fund I Primus Fund LLC acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,393 shares of the company's stock, valued at approximately $930,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Elevance Health during the second quarter worth $7,344,424,000. State Street Corp lifted its stake in shares of Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company's stock valued at $4,032,283,000 after acquiring an additional 137,914 shares during the period. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 12.0% during the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company's stock valued at $3,563,142,000 after acquiring an additional 984,976 shares during the period. First Eagle Investment Management LLC boosted its holdings in 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 during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Elevance Health in the second quarter valued at about $1,246,349,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Up 2.2%

NYSE:ELV opened at $439.57 on Wednesday. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $440.67. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $95.33 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.24 and a beta of 0.70. The stock's fifty day simple moving average is $405.84 and its 200-day simple moving average is $388.57.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, topping analysts' consensus estimates of $4.71 by $2.28. The business had revenue of $50.44 billion during the quarter, compared to analysts' expectations of $49.22 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. Equities research analysts expect that Elevance Health, Inc. will post 27.20 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ELV. Weiss Ratings reiterated a "hold (c)" rating on shares of Elevance Health in a research report on Thursday, August 13th. Guggenheim upped their target price on shares of Elevance Health from $455.00 to $460.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Barclays lifted their price target on shares of Elevance Health from $457.00 to $469.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Finally, Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research note on Tuesday, July 7th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $441.71.

Elevance Health Profile

Elevance Health, Inc NYSE: ELV is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.

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