Global Trust Asset Management LLC Decreases Holdings in Elevance Health, Inc. (NYSE:ELV)

by · The Markets Daily

Global Trust Asset Management LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV – Free Report) by 4.0% during the fourth quarter, HoldingsChannel reports. The fund owned 1,512 shares of the company’s stock after selling 63 shares during the period. Global Trust Asset Management LLC’s holdings in Elevance Health were worth $558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in Elevance Health by 143.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 199,438 shares of the company’s stock valued at $73,573,000 after purchasing an additional 117,473 shares in the last quarter. Atomi Financial Group Inc. grew its position in shares of Elevance Health by 6.8% in the 4th quarter. Atomi Financial Group Inc. now owns 657 shares of the company’s stock valued at $243,000 after buying an additional 42 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in Elevance Health by 110.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,114 shares of the company’s stock worth $1,149,000 after acquiring an additional 1,633 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in Elevance Health by 7.9% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 117,726 shares of the company’s stock valued at $43,429,000 after acquiring an additional 8,664 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in Elevance Health by 3.4% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,061 shares of the company’s stock valued at $391,000 after acquiring an additional 35 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 firms have recently weighed in on ELV. Barclays reduced their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. UBS Group decreased their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.87.

View Our Latest Stock Report on Elevance Health

Elevance Health Price Performance

Shares of ELV opened at $389.45 on Wednesday. The firm has a market capitalization of $90.32 billion, a PE ratio of 14.20, a P/E/G ratio of 1.09 and a beta of 0.84. The stock’s 50 day moving average is $386.73 and its two-hundred day moving average is $464.16. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

About Elevance Health

(Free Report)

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.

Read More

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