Elevance Health, Inc. (NYSE:ELV) Shares Acquired by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 109,062 shares of the company’s stock after acquiring an additional 1,733 shares during the period. Elevance Health comprises 2.3% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 9th biggest holding. ZWJ Investment Counsel Inc.’s holdings in Elevance Health were worth $56,712,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Bank & Trust Co purchased a new position in shares of Elevance Health in the 2nd quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the second quarter worth approximately $28,000. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health during the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new position in Elevance Health in the first quarter worth $32,000. Finally, Crewe Advisors LLC acquired a new position in shares of Elevance Health during the first quarter valued at $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Up 2.7 %

Shares of NYSE:ELV opened at $496.99 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market cap of $115.51 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 12 month low of $437.42 and a 12 month high of $567.26. The company has a 50-day moving average price of $530.38 and a 200 day moving average price of $528.62.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.74 by ($1.37). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.99 earnings per share. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Wall Street Analyst Weigh In

ELV has been the topic of several research reports. Wells Fargo & Company dropped their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Tuesday, October 1st. Stephens reiterated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research report on Thursday, September 5th. Bank of America reaffirmed a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, TD Cowen dropped their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $605.07.

Elevance Health Company 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.