QRG Capital Management Inc. Has $3.30 Million Stock Holdings in Elevance Health, Inc. $ELV

QRG Capital Management Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 73.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 10,197 shares of the company’s stock after selling 27,614 shares during the quarter. QRG Capital Management Inc.’s holdings in Elevance Health were worth $3,295,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Elevance Health by 129.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 63,353 shares of the company’s stock valued at $24,642,000 after buying an additional 35,787 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings in Elevance Health by 20.1% in the second quarter. Silver Oak Securities Incorporated now owns 1,565 shares of the company’s stock worth $609,000 after buying an additional 262 shares during the last quarter. Tran Capital Management L.P. bought a new position in Elevance Health during the second quarter valued at approximately $14,320,000. Toth Financial Advisory Corp lifted its stake in Elevance Health by 44.3% in the second quarter. Toth Financial Advisory Corp now owns 7,150 shares of the company’s stock valued at $2,781,000 after acquiring an additional 2,194 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its position in Elevance Health by 11.3% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 589 shares of the company’s stock worth $229,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Cowen restated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. The Goldman Sachs Group began coverage on Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target for the company. Wolfe Research set a $425.00 price target on Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Bank of America raised their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Thirteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $400.85.

Elevance Health Trading Down 1.9%

Shares of NYSE:ELV opened at $374.86 on Monday. The company has a market cap of $83.31 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.93 and a beta of 0.51. The stock’s 50-day moving average is $344.10 and its 200-day moving average is $327.87. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the firm earned $8.37 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.