Bruce G. Allen Investments LLC Sells 41 Shares of Elevance Health, Inc. (NYSE:ELV)

Bruce G. Allen Investments LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 274 shares of the company’s stock after selling 41 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Elevance Health were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. ST Germain D J Co. Inc. increased its stake in shares of Elevance Health by 56.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,322 shares of the company’s stock valued at $488,000 after purchasing an additional 476 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Elevance Health by 3.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,166 shares of the company’s stock valued at $7,808,000 after buying an additional 739 shares in the last quarter. InvesTrust purchased a new position in Elevance Health during the fourth quarter valued at $649,000. First County Bank CT bought a new stake in Elevance Health in the fourth quarter worth $290,000. Finally, Diversified Trust Co grew its stake in shares of Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after acquiring an additional 2,725 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV stock traded down $1.32 during midday trading on Friday, reaching $381.92. 1,363,063 shares of the company’s stock traded hands, compared to its average volume of 1,386,190. The stock’s 50-day moving average is $392.04 and its 200 day moving average is $473.32. The stock has a market cap of $88.58 billion, a P/E ratio of 13.92, a PEG ratio of 1.15 and a beta of 0.84. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. 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 (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the business posted $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, December 5th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.71%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ELV. Morgan Stanley dropped 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 note on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Wells Fargo & Company lowered their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $536.53.

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.