Universal Beteiligungs und Servicegesellschaft mbH Reduces Stock Position in Elevance Health, Inc. $ELV

Universal Beteiligungs und Servicegesellschaft mbH trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 11.4% during the third quarter, HoldingsChannel.com reports. The firm owned 280,378 shares of the company’s stock after selling 35,973 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Elevance Health were worth $90,596,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ELV. U.S. Capital Wealth Advisors LLC boosted its stake in Elevance Health by 11.3% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 589 shares of the company’s stock valued at $229,000 after acquiring an additional 60 shares during the last quarter. Golden State Equity Partners increased its position in shares of Elevance Health by 20.4% in the 2nd quarter. Golden State Equity Partners now owns 1,226 shares of the company’s stock worth $477,000 after purchasing an additional 208 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in shares of Elevance Health by 6.9% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,267 shares of the company’s stock valued at $493,000 after purchasing an additional 82 shares in the last quarter. Opal Wealth Advisors LLC increased its holdings in Elevance Health by 579.2% in the second quarter. Opal Wealth Advisors LLC now owns 360 shares of the company’s stock valued at $140,000 after buying an additional 307 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its stake in Elevance Health by 2.4% during the second quarter. Steigerwald Gordon & Koch Inc. now owns 45,598 shares of the company’s stock valued at $17,736,000 after buying an additional 1,054 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen lifted their target price on Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Mizuho set a $413.00 price objective on shares of Elevance Health in a report on Friday, January 9th. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $400.85.

Elevance Health Stock Down 2.2%

Shares of Elevance Health stock opened at $366.62 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market cap of $81.48 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.93 and a beta of 0.51. The stock has a 50-day moving average price of $346.57 and a 200 day moving average price of $328.18. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $8.37 EPS. As a group, analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

About Elevance Health

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.