Vanguard Personalized Indexing Management LLC Cuts Position in Elevance Health, Inc. $ELV

Vanguard Personalized Indexing Management LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,630 shares of the company’s stock after selling 6,617 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Elevance Health were worth $9,577,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ELV. Vanguard Group Inc. grew its stake in Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after purchasing an additional 704,790 shares during the period. Sanders Capital LLC boosted its holdings in shares of Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after buying an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Elevance Health by 9.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock worth $1,429,498,000 after buying an additional 324,399 shares during the last quarter. Norges Bank bought a new position in Elevance Health during the second quarter valued at about $1,148,379,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Elevance Health by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,440,630 shares of the company’s stock worth $788,616,000 after buying an additional 112,020 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 1.7%

ELV stock opened at $377.52 on Tuesday. The company’s 50 day moving average is $350.10 and its 200 day moving average is $328.90. The stock has a market cap of $83.90 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75.

Analyst Ratings Changes

A number of research analysts have weighed in on ELV shares. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Morgan Stanley dropped their price objective on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $320.00 target price (down from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $431.00 price target on shares of Elevance Health in a research report on Tuesday, January 6th. Finally, Mizuho set a $413.00 price target on Elevance Health in a research note on Friday, January 9th. Twelve analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Profile

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.