Elevance Health, Inc. $ELV Shares Sold by Stableford Capital II LLC

Key Points

• Stableford Capital II LLC reduced its stake in Elevance Health by 71.7% in the second quarter, holding 1,205 shares worth $469,000 after selling 3,051 shares.
• Wells Fargo upgraded Elevance Health’s price target from $330.00 to $412.00, with a majority of analysts rating the stock as a "Moderate Buy."
• Elevance Health reported $8.84 earnings per share for the last quarter, missing estimates, but its quarterly revenue increased 14.3% year-over-year to $49.42 billion.

Stableford Capital II LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 71.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,205 shares of the company's stock after selling 3,051 shares during the period. Stableford Capital II LLC's holdings in Elevance Health were worth $469,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Elevance Health from $330.00 to $412.00 and gave the company an "overweight" rating in a report on Tuesday, October 7th. Guggenheim boosted their target price on Elevance Health from $360.00 to $398.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Bank of America boosted their target price on Elevance Health from $330.00 to $370.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. Truist Financial set a $400.00 target price on Elevance Health in a report on Tuesday. Finally, UBS Group dropped their target price 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $408.33.

Elevance Health Price Performance

NYSE ELV opened at $349.46 on Thursday. The stock has a market capitalization of $78.69 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $497.34. The business's fifty day moving average is $319.56 and its two-hundred day moving average is $357.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

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

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of the company's stock in a transaction on Friday, July 18th. The stock was bought 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 directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by corporate 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.

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