Kapstone Financial Advisors LLC Sells 70 Shares of Elevance Health, Inc. (NYSE:ELV)

Kapstone Financial Advisors LLC trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,626 shares of the company’s stock after selling 70 shares during the quarter. Kapstone Financial Advisors LLC’s holdings in Elevance Health were worth $852,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bank & Trust Co bought a new position in shares of Elevance Health in the second quarter valued at approximately $27,000. PSI Advisors LLC bought a new position in Elevance Health in the 3rd quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health during the 2nd quarter worth $28,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health during the second quarter valued at about $30,000. Finally, Eastern Bank acquired a new stake in shares of Elevance Health in the third quarter valued at about $31,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ELV shares. Wells Fargo & Company cut their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Bank of America reiterated a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Finally, Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Price Performance

ELV traded up $2.30 during midday trading on Thursday, reaching $413.19. 190,717 shares of the company’s stock were exchanged, compared to its average volume of 1,150,862. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $480.88 and a two-hundred day simple moving average of $515.30. The firm has a market capitalization of $95.83 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the business earned $8.99 EPS. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

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.