4,644 Elevance Health, Inc. $ELV Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors reduced its Elevance Health stake by 6.2% in the third quarter, selling 4,644 shares and retaining 70,469 shares valued at approximately $27.4 million.
• Institutional ownership remains high at 89.24%, while several other investors increased their positions, including Robeco Institutional Asset Management, which nearly doubled its holdings.
• Elevance Health shares recently traded near $439.57, up 2.2%, and analysts maintain a “Moderate Buy” consensus with an average price target of $441.71.

Nisa Investment Advisors LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,469 shares of the company's stock after selling 4,644 shares during the period. Nisa Investment Advisors LLC's holdings in Elevance Health were worth $27,400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. increased its holdings in Elevance Health by 94.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 332,778 shares of the company's stock worth $129,391,000 after purchasing an additional 161,278 shares in the last quarter. Revisor Wealth Management LLC lifted its stake in Elevance Health by 6.6% in the third quarter. Revisor Wealth Management LLC now owns 4,404 shares of the company's stock valued at $1,801,000 after buying an additional 274 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Elevance Health by 5.8% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 1,654 shares of the company's stock worth $643,000 after buying an additional 90 shares in the last quarter. 55 North Private Wealth LLC grew its position in shares of Elevance Health by 4.5% during the 3rd quarter. 55 North Private Wealth LLC now owns 598 shares of the company's stock worth $233,000 after buying an additional 26 shares during the period. Finally, CWA Asset Management Group LLC grew its position in shares of Elevance Health by 9.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 823 shares of the company's stock worth $320,000 after buying an additional 74 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 2.2%

Shares of Elevance Health stock opened at $439.57 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $440.67. The stock has a 50 day moving average price of $405.84 and a two-hundred day moving average price of $388.57. The stock has a market capitalization of $95.33 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.70.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Royal Bank Of Canada dropped their target price on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 16th. Barclays increased their target price on shares of Elevance Health from $457.00 to $469.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a report on Tuesday, July 7th. Finally, TD Cowen lifted their price target on shares of Elevance Health from $400.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $441.71.

Elevance Health Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.