Trueblood Wealth Management LLC Has $872,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Trueblood Wealth Management LLC decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 8.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,364 shares of the company’s stock after selling 213 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Elevance Health were worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. MQS Management LLC bought a new position in Elevance Health in the 2nd quarter valued at approximately $217,000. AE Wealth Management LLC boosted its stake in shares of Elevance Health by 13.9% in the 2nd quarter. AE Wealth Management LLC now owns 5,205 shares of the company’s stock valued at $2,820,000 after purchasing an additional 637 shares during the last quarter. Sei Investments Co. increased its position in shares of Elevance Health by 10.2% during the second quarter. Sei Investments Co. now owns 123,872 shares of the company’s stock worth $67,117,000 after buying an additional 11,513 shares during the period. Ensign Peak Advisors Inc raised its stake in Elevance Health by 5.0% during the second quarter. Ensign Peak Advisors Inc now owns 60,115 shares of the company’s stock worth $32,574,000 after buying an additional 2,862 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in Elevance Health by 35,527.3% in the second quarter. Frank Rimerman Advisors LLC now owns 3,919 shares of the company’s stock valued at $2,124,000 after buying an additional 3,908 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $384.26 on Monday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market cap of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The stock’s fifty day simple moving average is $388.02 and its two-hundred day simple moving average is $466.63.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the company posted $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ELV shares. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Barclays dropped their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley cut their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.