Nisa Investment Advisors LLC Purchases 117,473 Shares of Elevance Health, Inc. (NYSE:ELV)

Nisa Investment Advisors LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 143.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 199,438 shares of the company’s stock after acquiring an additional 117,473 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Elevance Health were worth $73,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Elevance Health by 44.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,431 shares of the company’s stock worth $762,000 after acquiring an additional 438 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Elevance Health by 71.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,932 shares of the company’s stock worth $4,840,000 after purchasing an additional 3,711 shares in the last quarter. Evergreen Capital Management LLC grew its position in Elevance Health by 16.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,366 shares of the company’s stock worth $740,000 after purchasing an additional 194 shares during the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in Elevance Health during the 2nd quarter valued at approximately $2,509,000. Finally, Marshall Wace LLP purchased a new position in shares of Elevance Health in the second quarter worth $35,763,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $389.45 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The business’s 50 day moving average price is $387.20 and its 200 day moving average price is $465.15. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a market cap of $90.32 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.09 and a beta of 0.84.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald cut their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Wells Fargo & Company lowered 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average 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.