UMB Bank n.a. Increases Position in Elevance Health, Inc. (NYSE:ELV)

UMB Bank n.a. increased its position in Elevance Health, Inc. (NYSE:ELV) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,752 shares of the company’s stock after acquiring an additional 273 shares during the period. UMB Bank n.a.’s holdings in Elevance Health were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC increased its holdings in Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after buying an additional 85,770 shares during the period. Sanders Capital LLC raised its position in Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after buying an additional 44,805 shares during the last quarter. Wellington Management Group LLP lifted its stake in 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. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after acquiring an additional 190,118 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 1.1 %

Shares of ELV opened at $389.45 on Wednesday. The company’s 50-day moving average price is $387.20 and its 200 day moving average price is $465.15. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. 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 firm has a market cap of $90.32 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.09 and a beta of 0.84.

Analyst Ratings Changes

A number of research firms recently issued reports on ELV. Cantor Fitzgerald decreased their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Raymond James set a $485.00 price target on Elevance Health in a research report on Friday, October 18th. Barclays lowered their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Company 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.