Brookstone Capital Management Sells 8,259 Shares of Elevance Health, Inc. $ELV

Brookstone Capital Management cut its stake in Elevance Health, Inc. (NYSE:ELV) by 80.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELV. OLD National Bancorp IN raised its position in shares of Elevance Health by 44.8% in the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after acquiring an additional 1,939 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Elevance Health by 3.9% in the second quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares during the last quarter. Lombard Odier Asset Management Switzerland SA grew its stake in Elevance Health by 14.3% in 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 purchasing an additional 1,768 shares during the last quarter. World Investment Advisors raised 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 worth $10,671,000 after purchasing an additional 3,988 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Elevance Health by 11.3% during 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 during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $348.97 on Wednesday. The company has a market cap of $77.55 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.61 and a beta of 0.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s fifty day moving average price is $333.92 and its 200 day moving average price is $328.64. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

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

Elevance Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research note on Friday, December 19th. Barclays cut their price target on shares of Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. UBS Group decreased their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, September 5th. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $396.21.

Elevance Health 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.