Brophy Wealth Management LLC Takes $200,000 Position in Elevance Health, Inc. (NYSE:ELV)

Brophy Wealth Management LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 385 shares of the company’s stock, valued at approximately $200,000.

Several other large investors also recently modified their holdings of the business. Executive Wealth Management LLC acquired a new stake in shares of Elevance Health during the third quarter valued at about $10,901,000. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter valued at about $26,000. Continuum Advisory LLC grew its stake in shares of Elevance Health by 17.3% during the third quarter. Continuum Advisory LLC now owns 700 shares of the company’s stock valued at $364,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC grew its stake in shares of Elevance Health by 3.4% during the third quarter. LRI Investments LLC now owns 1,661 shares of the company’s stock valued at $864,000 after acquiring an additional 55 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC grew its stake in shares of Elevance Health by 3.3% during the third quarter. Drucker Wealth 3.0 LLC now owns 4,384 shares of the company’s stock valued at $2,280,000 after acquiring an additional 139 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

ELV opened at $389.98 on Wednesday. The business’s 50 day moving average is $431.73 and its 200-day moving average is $497.93. The stock has a market cap of $90.44 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.14 and a beta of 0.83. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a twelve month low of $379.29 and a twelve month high of $567.26.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.67%. Elevance Health’s dividend payout ratio is presently 23.77%.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Morgan Stanley reduced their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.