WESPAC Advisors SoCal LLC Increases Holdings in Elevance Health, Inc. $ELV

WESPAC Advisors SoCal LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 10.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,244 shares of the company’s stock after purchasing an additional 412 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Elevance Health were worth $1,651,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Stephens Inc. AR increased its position in shares of Elevance Health by 0.9% during the 2nd quarter. Stephens Inc. AR now owns 9,599 shares of the company’s stock valued at $3,734,000 after purchasing an additional 87 shares during the last quarter. Beverly Hills Private Wealth LLC increased its holdings in Elevance Health by 7.3% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 14,546 shares of the company’s stock worth $5,658,000 after acquiring an additional 994 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in Elevance Health by 11.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 2,871 shares of the company’s stock worth $1,117,000 after acquiring an additional 286 shares during the last quarter. Forvis Mazars Wealth Advisors LLC increased its holdings in Elevance Health by 0.6% in the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 8,036 shares of the company’s stock worth $3,126,000 after acquiring an additional 47 shares during the last quarter. Finally, Crux Wealth Advisors increased its holdings in Elevance Health by 50.6% in the 2nd quarter. Crux Wealth Advisors now owns 4,088 shares of the company’s stock worth $1,590,000 after acquiring an additional 1,374 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELV. JPMorgan Chase & Co. decreased their price objective on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Morgan Stanley lifted their price objective on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 14th. Wells Fargo & Company lifted their price objective on Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Truist Financial set a $400.00 price objective on Elevance Health in a report on Tuesday, October 14th. Finally, Robert W. Baird decreased their price objective on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $400.06.

Elevance Health Stock Up 1.6%

ELV stock opened at $354.33 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $79.79 billion, a PE ratio of 15.08, a PEG ratio of 1.27 and a beta of 0.59. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The stock has a 50-day simple moving average of $323.21 and a two-hundred day simple moving average of $354.62.

Insiders Place Their Bets

In related news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

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.