Elevance Health, Inc. $ELV Shares Sold by Brookstone Capital Management

Brookstone Capital Management lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 80.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,040 shares of the company’s stock after selling 8,259 shares during the period. Brookstone Capital Management’s holdings in Elevance Health were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. OLD National Bancorp IN grew its stake in shares of Elevance Health by 44.8% during the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after purchasing an additional 1,939 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Elevance Health by 3.9% during the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after buying an additional 790 shares in the last quarter. Lombard Odier Asset Management Switzerland SA grew its position in Elevance Health by 14.3% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock valued at $5,508,000 after buying an additional 1,768 shares during the period. World Investment Advisors increased its holdings in Elevance Health by 17.0% in the second quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after buying an additional 3,988 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its holdings in Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after buying an additional 817 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial set a $400.00 target price on Elevance Health in a research report on Tuesday, October 14th. The Goldman Sachs Group assumed coverage on Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target on the stock. UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 target price (down from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Finally, Mizuho dropped their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $396.21.

Elevance Health Stock Up 0.2%

Shares of ELV opened at $348.97 on Wednesday. The stock has a 50 day moving average price of $333.92 and a 200 day moving average price of $328.64. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $77.55 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.61 and a beta of 0.52.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the company posted $8.37 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health’s payout ratio is presently 27.96%.

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.