Mitsubishi UFJ Trust & Banking Corp Lowers Stock Position in Elevance Health, Inc. $ELV

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 9.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 286,251 shares of the company’s stock after selling 30,803 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Elevance Health were worth $92,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after acquiring an additional 704,790 shares during the period. Sanders Capital LLC lifted its holdings in Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after acquiring an additional 1,152,440 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Elevance Health by 9.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock worth $1,429,498,000 after purchasing an additional 324,399 shares in the last quarter. Norges Bank purchased a new stake in shares of Elevance Health during the 2nd quarter worth $1,148,379,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Elevance Health by 4.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,440,630 shares of the company’s stock worth $788,616,000 after purchasing an additional 112,020 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wells Fargo & Company lifted their price target on shares of Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Robert W. Baird boosted their price target on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Guggenheim upped their price target on Elevance Health from $398.00 to $414.00 and gave the stock a “buy” rating in a report on Thursday. Twelve analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $370.77 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The business’s fifty day moving average price is $349.17 and its two-hundred day moving average price is $328.94. The stock has a market cap of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $8.37 earnings per share. On average, analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.