Kapstone Financial Advisors LLC Sells 247 Shares of Elevance Health, Inc. (NYSE:ELV)

Kapstone Financial Advisors LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 15.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,379 shares of the company’s stock after selling 247 shares during the period. Kapstone Financial Advisors LLC’s holdings in Elevance Health were worth $552,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp lifted its stake in Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the period. Wellington Management Group LLP lifted its position in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after buying an additional 286,905 shares during the period. World Investment Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at $129,221,000. Finally, Proficio Capital Partners LLC grew its position in Elevance Health by 49,164.4% in the fourth quarter. Proficio Capital Partners LLC now owns 231,050 shares of the company’s stock valued at $85,234,000 after acquiring an additional 230,581 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 0.3 %

ELV stock opened at $395.63 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a market cap of $89.95 billion, a P/E ratio of 15.45, a PEG ratio of 1.18 and a beta of 0.83. The business has a fifty day moving average of $388.27 and a 200-day moving average of $437.33.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 1.73%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

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.