ZWJ Investment Counsel Inc. Raises Stake in Elevance Health, Inc. (NYSE:ELV)

ZWJ Investment Counsel Inc. boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 117,726 shares of the company’s stock after buying an additional 8,664 shares during the period. Elevance Health makes up about 1.8% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 21st largest position. ZWJ Investment Counsel Inc. owned 0.05% of Elevance Health worth $43,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cypress Wealth Services LLC raised its stake in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. increased its holdings in Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC raised its position in Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after purchasing an additional 25 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after purchasing an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC boosted its position in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of NYSE ELV opened at $384.26 on Tuesday. 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 market capitalization of $89.12 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The business has a 50 day simple moving average of $388.02 and a 200-day simple moving average of $466.18.

Wall Street Analyst Weigh In

ELV has been the topic of several analyst reports. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company decreased their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $536.53.

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.