Barlow Wealth Partners Inc. Acquires 17,390 Shares of Elevance Health, Inc. $ELV

Key Points

• Barlow Wealth Partners Inc. increased its holdings in Elevance Health by 762.7%, acquiring 17,390 shares for a total of 19,670 shares valued at approximately $7.65 million.
• Various institutional investors modified their holdings in Elevance Health, with a significant 89.24% of the company's stock now owned by such entities.
• Analysts have a consensus rating of "Moderate Buy" for Elevance Health, with an average target price of $408.33, despite recent adjustments in price targets from several brokerages.

Barlow Wealth Partners Inc. increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 762.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,670 shares of the company's stock after purchasing an additional 17,390 shares during the quarter. Barlow Wealth Partners Inc.'s holdings in Elevance Health were worth $7,651,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ELV. GLOBALT Investments LLC GA boosted its holdings in Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after purchasing an additional 24 shares during the period. Elser Financial Planning Inc boosted its holdings in Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after purchasing an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after purchasing an additional 27 shares during the period. Hemington Wealth Management boosted its holdings in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock valued at $100,000 after purchasing an additional 27 shares during the period. Finally, Aspen Investment Management Inc boosted its holdings in Elevance Health by 2.6% in the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company's stock valued at $456,000 after purchasing an additional 27 shares during the period. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ELV. Bank of America raised their price target on shares of Elevance Health from $330.00 to $370.00 and gave the company a "neutral" rating in a report on Friday, October 10th. Morgan Stanley raised their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the company an "equal weight" rating in a research report on Tuesday. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. UBS Group lowered their price objective on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. Finally, Truist Financial set a $400.00 price objective on shares of Elevance Health in a research report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $408.33.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $349.46 on Thursday. The stock has a market cap of $78.69 billion, a PE ratio of 14.87, a PEG ratio of 1.28 and a beta of 0.59. The company's fifty day moving average is $319.56 and its 200 day moving average is $357.50. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $497.34. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The business had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.12 EPS. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction on Friday, July 18th. The stock was purchased at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.