Elevance Health, Inc. $ELV Shares Sold by Newport Trust Company LLC

Newport Trust Company LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.1% during the third quarter, Holdings Channel.com reports. The firm owned 1,024,017 shares of the company’s stock after selling 22,027 shares during the period. Elevance Health makes up 0.8% of Newport Trust Company LLC’s holdings, making the stock its 23rd biggest holding. Newport Trust Company LLC’s holdings in Elevance Health were worth $330,880,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC raised its holdings in Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in shares of Elevance Health during the second quarter valued at about $32,000. Motco increased its position in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Elevance Health by 431.8% in the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares during the period. Finally, Glass Jacobson Investment Advisors llc increased its holdings in Elevance Health by 400.0% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock valued at $39,000 after purchasing an additional 80 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Robert W. Baird increased their target price on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Mizuho set a $413.00 target price on Elevance Health in a report on Friday, January 9th. JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $320.00 price target (down previously from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.63.

Elevance Health Price Performance

ELV stock opened at $370.77 on Friday. The business’s 50-day moving average is $349.17 and its two-hundred day moving average is $328.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $82.40 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

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.