Border to Coast Pensions Partnership Ltd Buys 10,196 Shares of Elevance Health, Inc. (NYSE:ELV)

Border to Coast Pensions Partnership Ltd boosted its position in Elevance Health, Inc. (NYSE:ELV) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,121 shares of the company’s stock after purchasing an additional 10,196 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Elevance Health were worth $25,113,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Raelipskie Partnership bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC purchased a new position in Elevance Health in the third quarter worth $27,000. Eastern Bank acquired a new position in shares of Elevance Health during the third quarter worth $31,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health during the 3rd quarter valued at $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Trading Down 1.2 %

Shares of NYSE:ELV opened at $384.77 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50 day moving average of $389.68 and a two-hundred day moving average of $468.73. The company has a market capitalization of $89.24 billion, a PE ratio of 14.03, a PEG ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its quarterly 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). The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.99 EPS. As a group, analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ELV. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald lowered their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $536.53.

Elevance Health Profile

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.