Elevance Health, Inc. (NYSE:ELV) Shares Sold by Brookstone Capital Management

Brookstone Capital Management trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,356 shares of the company’s stock after selling 252 shares during the quarter. Brookstone Capital Management’s holdings in Elevance Health were worth $703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC purchased a new stake in Elevance Health in the third quarter valued at approximately $556,000. AXQ Capital LP purchased a new stake in Elevance Health in the third quarter valued at approximately $1,001,000. Alps Advisors Inc. lifted its stake in Elevance Health by 545.2% in the third quarter. Alps Advisors Inc. now owns 7,929 shares of the company’s stock valued at $3,452,000 after buying an additional 6,700 shares during the last quarter. Eminence Capital LP lifted its stake in Elevance Health by 2.1% in the third quarter. Eminence Capital LP now owns 165,812 shares of the company’s stock valued at $72,198,000 after buying an additional 3,416 shares during the last quarter. Finally, Legacy Advisors LLC lifted its stake in Elevance Health by 562.2% in the third quarter. Legacy Advisors LLC now owns 5,569 shares of the company’s stock valued at $2,425,000 after buying an additional 4,728 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 1.1 %

Elevance Health stock opened at $541.86 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $125.94 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The stock’s fifty day moving average is $534.36 and its two-hundred day moving average is $508.99.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.46 earnings per share. Analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research reports. UBS Group boosted their price objective on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research note on Wednesday, June 12th. Royal Bank of Canada upped their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Bank of America upped their price target on Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Buy” and a consensus price target of $611.36.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by corporate insiders.

About Elevance Health

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.