Fiduciary Alliance LLC Has $1.83 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Fiduciary Alliance LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 701.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,956 shares of the company’s stock after acquiring an additional 4,338 shares during the quarter. Fiduciary Alliance LLC’s holdings in Elevance Health were worth $1,828,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter valued at $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the third quarter valued at $27,000. Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter worth about $31,000. Dunhill Financial LLC boosted its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new position in Elevance Health during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 4.1 %

Shares of ELV stock opened at $396.84 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a fifty day moving average of $390.97 and a 200-day moving average of $470.34. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The stock has a market cap of $92.04 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.15 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the business earned $8.99 EPS. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. UBS Group lowered their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Morgan Stanley cut their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada cut their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $536.53.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

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.