Richwood Investment Advisors LLC Trims Position in Elevance Health, Inc. (NYSE:ELV)

Richwood Investment Advisors LLC decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 1.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,454 shares of the company’s stock after selling 35 shares during the period. Elevance Health comprises approximately 1.1% of Richwood Investment Advisors LLC’s holdings, making the stock its 22nd largest position. Richwood Investment Advisors LLC’s holdings in Elevance Health were worth $1,276,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ELV. Centaurus Financial Inc. bought a new position in Elevance Health in the fourth quarter worth approximately $137,000. EP Wealth Advisors LLC lifted its holdings in shares of Elevance Health by 11.9% in the 4th quarter. EP Wealth Advisors LLC now owns 2,677 shares of the company’s stock worth $1,262,000 after buying an additional 284 shares during the period. Scarborough Advisors LLC bought a new position in shares of Elevance Health during the 4th quarter worth $111,000. Fisher Asset Management LLC increased its stake in shares of Elevance Health by 20.8% during the fourth quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock valued at $424,000 after buying an additional 155 shares during the period. Finally, SageView Advisory Group LLC raised its holdings in shares of Elevance Health by 109.2% in the fourth quarter. SageView Advisory Group LLC now owns 1,416 shares of the company’s stock valued at $697,000 after acquiring an additional 739 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ELV shares. Barclays increased their target price on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Bank of America restated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company decreased their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $605.07.

Elevance Health Stock Down 3.1 %

NYSE ELV traded down $16.02 during trading on Tuesday, hitting $493.00. The company’s stock had a trading volume of 950,065 shares, compared to its average volume of 1,020,849. Elevance Health, Inc. has a fifty-two week low of $435.99 and a fifty-two week high of $567.26. The company has a market cap of $114.58 billion, a PE ratio of 19.26, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business’s 50 day simple moving average is $531.66 and its 200-day simple moving average is $529.09.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business earned $9.04 EPS. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. Company insiders own 0.35% of the company’s stock.

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.