Kapstone Financial Advisors LLC Purchases 42 Shares of Elevance Health, Inc. (NYSE:ELV)

Kapstone Financial Advisors LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,528 shares of the company’s stock after acquiring an additional 42 shares during the period. Kapstone Financial Advisors LLC’s holdings in Elevance Health were worth $734,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the third quarter worth about $25,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health in the 4th quarter valued at approximately $31,000. ORG Partners LLC acquired a new stake in Elevance Health in the 4th quarter valued at approximately $40,000. Orion Capital Management LLC acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $46,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Elevance Health in the 3rd quarter valued at approximately $51,000. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Mizuho lifted their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $587.42.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $2.42 during trading on Friday, reaching $537.26. 700,726 shares of the company traded hands, compared to its average volume of 1,135,198. The company’s 50 day moving average is $511.89 and its two-hundred day moving average is $486.62. The firm has a market capitalization of $124.87 billion, a PE ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the firm earned $9.46 EPS. Elevance Health’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s payout ratio is 24.64%.

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.