Compound Global Advisors LLC Lowers Stake in Elevance Health, Inc. $ELV

Compound Global Advisors LLC trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 83.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164 shares of the company’s stock after selling 820 shares during the period. Elevance Health comprises 5.8% of Compound Global Advisors LLC’s portfolio, making the stock its 9th biggest holding. Compound Global Advisors LLC’s holdings in Elevance Health were worth $64,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Nuveen LLC purchased a new stake in shares of Elevance Health in the 1st quarter worth $789,943,000. Orbis Allan Gray Ltd grew its holdings in Elevance Health by 31.4% during the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after purchasing an additional 680,228 shares during the period. Vanguard Group Inc. increased its position in Elevance Health by 3.1% in the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares in the last quarter. Boston Partners raised its stake in shares of Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after buying an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after buying an additional 324,040 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan D. Devore purchased 1,200 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $348.14 on Friday. The company has a market cap of $78.39 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.28 and a beta of 0.59. 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 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm’s fifty day moving average is $320.85 and its two-hundred day moving average is $356.90.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.12 EPS. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. UBS Group decreased their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Bank of America increased their price objective on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Barclays lifted their target price on shares of Elevance Health from $373.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday. Finally, Wells Fargo & Company raised their price target on Elevance Health from $330.00 to $412.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $408.33.

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.