Elevance Health, Inc. $ELV Stock Position Cut by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its Elevance Health position by 83.4% in the third quarter, selling 44,757 shares and retaining 8,883 shares valued at approximately $3.45 million.
• Institutional investors own 89.24% of Elevance Health, while several smaller firms modestly increased their holdings during recent quarters.
• Wall Street maintains a “Moderate Buy” consensus rating, with 15 Buy ratings and eight Holds and an average price target of $441.71, above the stock’s reported $428.11 price.

Vontobel Holding Ltd. decreased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 83.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,883 shares of the company's stock after selling 44,757 shares during the quarter. Vontobel Holding Ltd.'s holdings in Elevance Health were worth $3,454,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ELV. Field & Main Bank lifted its stake in shares of Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company's stock worth $728,000 after buying an additional 25 shares during the last quarter. Tranquilli Financial Advisor LLC grew its holdings in shares of Elevance Health by 1.3% during the 2nd quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company's stock worth $805,000 after purchasing an additional 26 shares in the last quarter. Mather Group LLC. raised its stake in shares of Elevance Health by 3.5% in the 3rd quarter. Mather Group LLC. now owns 766 shares of the company's stock valued at $298,000 after buying an additional 26 shares in the last quarter. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after buying an additional 27 shares during the period. Finally, Signet Financial Management LLC lifted its holdings in shares of Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company's stock valued at $245,000 after acquiring an additional 28 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ELV. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Leerink Partners raised their target price on shares of Elevance Health from $364.00 to $395.00 and gave the company a "market perform" rating in a research note on Friday, July 17th. Barclays lifted their price target on shares of Elevance Health from $457.00 to $469.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Royal Bank Of Canada reduced their target price on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a research note on Thursday, July 16th. Finally, Guggenheim upped their price objective on Elevance Health from $455.00 to $460.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned 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 price target of $441.71.

Elevance Health Trading Down 0.0%

ELV opened at $428.11 on Monday. The company's 50 day moving average is $404.18 and its 200-day moving average is $386.62. The company has a market cap of $92.84 billion, a P/E ratio of 19.03, a PEG ratio of 2.23 and a beta of 0.70. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health 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.

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