Clear Harbor Asset Management LLC Boosts Position in Elevance Health, Inc. (NYSE:ELV)

Clear Harbor Asset Management LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 110.3% during the 4th quarter, Holdings Channel reports. The fund owned 3,114 shares of the company’s stock after purchasing an additional 1,633 shares during the period. Clear Harbor Asset Management LLC’s holdings in Elevance Health were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pathway Financial Advisers LLC lifted its stake in shares of Elevance Health by 51,967.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock valued at $341,956,000 after purchasing an additional 656,344 shares during the period. Stifel Financial Corp raised its position in shares of Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after acquiring an additional 538,978 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after acquiring an additional 334,552 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after acquiring an additional 286,905 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ELV. Raymond James set a $485.00 price objective on Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald dropped their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. TD Cowen dropped their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Price Performance

Elevance Health stock opened at $389.45 on Wednesday. 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 company has a 50-day moving average price of $387.20 and a 200 day moving average price of $465.15. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The stock has a market cap of $90.32 billion, a P/E ratio of 14.20, a PEG ratio of 1.09 and a beta of 0.84.

Elevance Health 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.