AMI Investment Management Inc. Buys 1,947 Shares of Elevance Health, Inc. (NYSE:ELV)

AMI Investment Management Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV) by 78.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,435 shares of the company’s stock after acquiring an additional 1,947 shares during the period. AMI Investment Management Inc.’s holdings in Elevance Health were worth $1,636,000 at the end of the most recent quarter.

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

Elevance Health Trading Down 0.3 %

Shares of Elevance Health stock opened at $384.26 on Monday. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-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 business’s 50 day moving average is $388.02 and its 200-day moving average is $466.63. The stock has a market cap of $89.12 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted 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 $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the company posted $8.99 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ELV has been the subject of several recent analyst reports. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Friday. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $536.53.

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.