Crux Wealth Advisors Has $1.59 Million Stock Holdings in Elevance Health, Inc. $ELV

Key Points

• Crux Wealth Advisors increased its stake in Elevance Health, Inc. by 50.6%, reaching a total of 4,088 shares worth $1.59 million at the end of the second quarter.
• Analysts have provided mixed ratings for Elevance Health, with targets ranging from $297 to $425, and a consensus rating of "Moderate Buy".
• Director Susan D. Devore purchased 1,200 shares of Elevance Health at a price of $312.15 per share, increasing her ownership by 52.13%.

Crux Wealth Advisors grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 50.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,088 shares of the company's stock after buying an additional 1,374 shares during the period. Crux Wealth Advisors' holdings in Elevance Health were worth $1,590,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ELV. GLOBALT Investments LLC GA grew its stake in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after acquiring an additional 24 shares during the period. Elser Financial Planning Inc grew its position in shares of 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 grew its position in shares of 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 increased its stake in Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after purchasing an additional 27 shares in the last quarter. Finally, Aspen Investment Management Inc raised its holdings in Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company's stock worth $456,000 after buying an additional 27 shares during the period. Institutional investors own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. Bank of America lifted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Robert W. Baird dropped their price objective on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. The Goldman Sachs Group started coverage on shares of Elevance Health in a research note on Tuesday. They issued a "neutral" rating and a $343.00 target price for the company. Leerink Partners reiterated a "market perform" rating and set a $310.00 target price (down previously from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Finally, UBS Group cut their price target on Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a report on Friday, September 5th. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average price target of $404.72.

Insiders Place Their Bets

In related news, Director Susan D. Devore purchased 1,200 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Trading Up 0.2%

Shares of NYSE:ELV opened at $348.93 on Friday. The stock has a market capitalization of $78.57 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.59. The company's 50-day moving average price is $321.94 and its two-hundred day moving average price is $355.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

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

Elevance Health 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.

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