Romano Brothers AND Company Sells 38 Shares of Elevance Health, Inc. (NYSE:ELV)

Romano Brothers AND Company lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,162 shares of the company’s stock after selling 38 shares during the quarter. Romano Brothers AND Company’s holdings in Elevance Health were worth $798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Czech National Bank raised its holdings in Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after buying an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT boosted its holdings in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock worth $20,360,000 after purchasing an additional 3,786 shares during the period. International Assets Investment Management LLC grew its stake in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after purchasing an additional 50,603 shares during the period. Finally, Diversified Trust Co raised its position in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after purchasing an additional 2,725 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Mizuho decreased their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Royal Bank of Canada decreased 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 note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Stock Performance

Elevance Health stock opened at $384.26 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $89.12 billion, a P/E ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. The stock’s 50 day moving average is $388.02 and its 200 day moving average is $467.11.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the prior year, the company posted $8.99 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

About Elevance Health

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.