Elevance Health, Inc. (NYSE:ELV) Holdings Boosted by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 117,726 shares of the company’s stock after acquiring an additional 8,664 shares during the quarter. Elevance Health comprises approximately 1.8% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 21st biggest position. ZWJ Investment Counsel Inc.’s holdings in Elevance Health were worth $43,429,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have commented on ELV. TD Cowen decreased their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Barclays decreased their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Raymond James set a $485.00 target price on Elevance Health in a research note on Friday, October 18th. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Stock Down 0.3 %

ELV stock opened at $384.26 on Tuesday. The firm has a market cap of $89.12 billion, a PE ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $388.02 and a 200 day simple moving average of $466.18.

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.