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

Brookstone Capital Management lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 696.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,793 shares of the company's stock after buying an additional 8,563 shares during the quarter. Brookstone Capital Management's holdings in Elevance Health were worth $4,260,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Accredited Wealth Management LLC bought a new position in shares of Elevance Health in the fourth quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the fourth quarter valued at about $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Elevance Health during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Analyst Upgrades and Downgrades

ELV has been the subject of several research analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Mizuho raised their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $0.08 on Tuesday, reaching $346.96. 614,801 shares of the stock were exchanged, compared to its average volume of 1,733,112. Elevance Health, Inc. has a 1-year low of $343.72 and a 1-year high of $567.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $386.32 and a two-hundred day moving average price of $398.50. The firm has a market capitalization of $78.39 billion, a PE ratio of 13.54, a PEG ratio of 0.88 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

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.