Elevance Health, Inc. $ELV Position Lowered by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 88.8% in the third quarter, Holdings Channel reports. The firm owned 2,209 shares of the company’s stock after selling 17,461 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in Elevance Health were worth $763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELV. Evergreen Wealth Management LLC increased its holdings in shares of Elevance Health by 33.5% in the 3rd quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after acquiring an additional 4,336 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Elevance Health in the third quarter worth $52,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Elevance Health by 28.6% during the third quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 900 shares of the company’s stock valued at $291,000 after purchasing an additional 200 shares during the last quarter. National Wealth Management Group LLC acquired a new stake in shares of Elevance Health during the third quarter worth $459,000. Finally, Intact Investment Management Inc. lifted its position in shares of Elevance Health by 31.7% in the 3rd quarter. Intact Investment Management Inc. now owns 4,610 shares of the company’s stock worth $1,490,000 after buying an additional 1,110 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ELV shares. Barclays increased their price objective on shares of Elevance Health from $385.00 to $404.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. JPMorgan Chase & Co. upped their target price on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Guggenheim raised their price target on Elevance Health from $398.00 to $414.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research set a $425.00 price objective on Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Robert W. Baird increased their target price on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $377.52 on Tuesday. The stock has a market cap of $83.90 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.91 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The stock’s 50 day moving average price is $350.10 and its 200 day moving average price is $328.90.

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.