Brookstone Capital Management Acquires 506 Shares of Elevance Health, Inc. $ELV

Brookstone Capital Management boosted its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,299 shares of the company’s stock after acquiring an additional 506 shares during the period. Brookstone Capital Management’s holdings in Elevance Health were worth $4,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ELV. Nuveen LLC bought a new stake in Elevance Health in the 1st quarter valued at $789,943,000. Orbis Allan Gray Ltd increased its position in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after buying an additional 680,228 shares during the period. Vanguard Group Inc. increased its position in Elevance Health by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after buying an additional 666,534 shares during the period. Boston Partners increased its position in Elevance Health by 241.3% during the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after buying an additional 605,689 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $346.36 on Friday. The stock’s 50-day simple moving average is $326.42 and its 200 day simple moving average is $353.99. The firm has a market capitalization of $76.97 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.26 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings data 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 analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.Elevance Health’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $8.37 earnings per share. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is presently 29.11%.

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of several recent research reports. Sanford C. Bernstein lowered their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 16th. Morgan Stanley increased their price objective on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Guggenheim increased their price objective on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Finally, Mizuho increased their target price on Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $397.89.

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.