Cambiar Investors LLC Buys 18,730 Shares of Elevance Health, Inc. $ELV

Cambiar Investors LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,780 shares of the company’s stock after buying an additional 18,730 shares during the period. Elevance Health accounts for about 2.5% of Cambiar Investors LLC’s holdings, making the stock its 10th biggest holding. Cambiar Investors LLC owned 0.08% of Elevance Health worth $54,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pines Wealth Management LLC raised its holdings in Elevance Health by 45.7% during the 3rd quarter. Pines Wealth Management LLC now owns 1,011 shares of the company’s stock worth $327,000 after purchasing an additional 317 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Elevance Health by 42.5% during the third quarter. Stonegate Investment Group LLC now owns 748 shares of the company’s stock worth $242,000 after buying an additional 223 shares during the period. Evergreen Wealth Management LLC raised its stake in Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after buying an additional 4,336 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Elevance Health during the third quarter worth $52,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Elevance Health by 28.6% in the third quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 900 shares of the company’s stock valued at $291,000 after buying an additional 200 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 14.4%

NYSE:ELV opened at $322.55 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a market cap of $71.68 billion, a PE ratio of 13.19, a PEG ratio of 1.94 and a beta of 0.51. The firm has a 50-day moving average of $350.06 and a 200-day moving average of $328.78.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Truist Financial set a $400.00 target price on Elevance Health in a research note on Tuesday, October 14th. Bank of America boosted their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. The Goldman Sachs Group initiated coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective for the company. Finally, Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Twelve analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.