Sanibel Captiva Trust Company Inc. Decreases Stake in Elevance Health, Inc. (NYSE:ELV)

Sanibel Captiva Trust Company Inc. trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,266 shares of the company’s stock after selling 416 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Elevance Health were worth $467,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the 3rd quarter valued at $26,000. PSI Advisors LLC purchased a new position in Elevance Health in the third quarter valued at $27,000. Eastern Bank acquired a new stake in Elevance Health in the third quarter valued at $31,000. Dunhill Financial LLC lifted its holdings in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Stock Down 0.3 %

ELV stock opened at $384.26 on Monday. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a fifty day moving average of $388.02 and a 200-day moving average of $466.63. The stock has a market capitalization of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.99 EPS. As a group, analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

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.