Elevance Health, Inc. $ELV Shares Acquired by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada Inc. increased its stake in Elevance Health by 3.4%, owning 39,120 shares valued at approximately $15.2 million after acquiring additional shares in the second quarter.
• Corporate insiders, such as Director Susan D. Devore, have also shown confidence in the company by acquiring shares, with Devore increasing her holdings by 52.13% through a recent purchase.
• Analysts have mixed outlooks for Elevance Health, adjusting target prices up to $400, with a consensus rating categorized as a Moderate Buy according to MarketBeat data.

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,120 shares of the company's stock after acquiring an additional 1,304 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Elevance Health were worth $15,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Wealth Management Group LLC lifted its stake in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC acquired a new stake in Elevance Health during the 1st quarter valued at approximately $29,000. North Capital Inc. acquired a new stake in Elevance Health during the 1st quarter valued at approximately $36,000. Saudi Central Bank acquired a new position in shares of Elevance Health in the 1st quarter valued at $40,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at $43,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. The trade was a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Bank of America boosted their target price 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. Truist Financial set a $400.00 target price on shares of Elevance Health in a research note on Tuesday, October 14th. Robert W. Baird decreased their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. UBS Group decreased their target price on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating for the company in a research note on Friday, September 5th. Finally, Argus reiterated a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and a consensus target price of $400.06.

Elevance Health Stock Performance

NYSE:ELV opened at $354.33 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average of $323.21 and a two-hundred day moving average of $354.62. The stock has a market capitalization of $79.79 billion, a PE ratio of 15.08, a P/E/G ratio of 1.27 and a beta of 0.59. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75.

About Elevance Health

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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