Elevance Health, Inc. (NYSE:ELV) Shares Sold by Kapstone Financial Advisors LLC

Kapstone Financial Advisors LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,626 shares of the company’s stock after selling 70 shares during the quarter. Kapstone Financial Advisors LLC’s holdings in Elevance Health were worth $852,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. American Trust boosted its position in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares during the period. Private Ocean LLC lifted its holdings in Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after purchasing an additional 22 shares during the period. Hurlow Wealth Management Group Inc. grew its position in Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after buying an additional 23 shares in the last quarter. Cypress Wealth Services LLC increased its stake in Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after buying an additional 23 shares during the period. Finally, CVA Family Office LLC raised its position in shares of Elevance Health by 4.2% during the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock worth $326,000 after buying an additional 24 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 0.6 %

NYSE:ELV traded up $2.30 during trading hours on Thursday, hitting $413.19. 190,717 shares of the company’s stock traded hands, compared to its average volume of 1,150,862. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The firm has a market cap of $95.83 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s fifty day moving average price is $480.88 and its two-hundred day moving average price is $515.30.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $8.99 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Cantor Fitzgerald dropped their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is currently owned by company 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.