Rep. Robert Bresnahan, Jr. Sells Off Shares of Elevance Health, Inc. (NYSE:ELV)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Elevance Health, Inc. (NYSE:ELV). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Elevance Health stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

Elevance Health Price Performance

ELV stock traded down $2.02 during mid-day trading on Friday, hitting $389.58. The stock had a trading volume of 1,202,248 shares, compared to its average volume of 1,761,671. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market capitalization of $90.35 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. The firm has a fifty day simple moving average of $385.08 and a 200 day simple moving average of $449.32.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, research analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cypress Advisory Group LLC acquired a new position in shares of Elevance Health in the 4th quarter worth approximately $1,783,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Elevance Health during the 4th quarter valued at $17,043,000. Keel Point LLC lifted its position in shares of Elevance Health by 4.5% during the 4th quarter. Keel Point LLC now owns 1,254 shares of the company’s stock valued at $463,000 after acquiring an additional 54 shares during the period. Voleon Capital Management LP acquired a new position in shares of Elevance Health during the 4th quarter valued at $2,668,000. Finally, Utah Retirement Systems lifted its position in shares of Elevance Health by 0.5% during the 4th quarter. Utah Retirement Systems now owns 38,650 shares of the company’s stock valued at $14,258,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ELV shares. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.