Monument Capital Management Has $266,000 Position in Elevance Health, Inc. (NYSE:ELV)

Monument Capital Management trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 513 shares of the company’s stock after selling 129 shares during the quarter. Monument Capital Management’s holdings in Elevance Health were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health in the fourth quarter valued at approximately $28,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health in the 4th quarter valued at $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at $32,000. Register Financial Advisors LLC bought a new position in Elevance Health during the first quarter worth $32,000. Finally, Hexagon Capital Partners LLC grew its holdings in Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock worth $35,000 after purchasing an additional 29 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ELV. Wells Fargo & Company upped their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Stephens reiterated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a report on Tuesday, June 11th. JPMorgan Chase & Co. raised their price objective on Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Baird R W raised Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada lifted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $611.36.

Elevance Health Stock Performance

NYSE ELV opened at $530.22 on Thursday. The company has a fifty day moving average price of $534.47 and a 200-day moving average price of $509.86. The firm has a market cap of $123.23 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.20 and a beta of 0.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health, Inc. has a 1 year low of $412.00 and a 1 year high of $550.34.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $9.46 earnings per share. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

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.