Cetera Trust Company N.A Sells 725 Shares of Elevance Health, Inc. (NYSE:ELV)

Cetera Trust Company N.A lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 15.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,961 shares of the company’s stock after selling 725 shares during the period. Cetera Trust Company N.A’s holdings in Elevance Health were worth $1,461,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raelipskie Partnership bought a new stake in shares of Elevance Health during the third quarter valued at approximately $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health in the third quarter worth approximately $27,000. Eastern Bank bought a new stake in Elevance Health during the third quarter worth $31,000. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health in the third quarter valued at approximately $44,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

ELV opened at $383.90 on Wednesday. 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 stock has a market capitalization of $89.03 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.84. The stock’s 50 day moving average price is $386.73 and its 200-day moving average price is $464.16. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ELV shares. Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. TD Cowen cut their price target 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. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada cut their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.87.

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.