Bruce G. Allen Investments LLC Has $101,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Bruce G. Allen Investments LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274 shares of the company’s stock after selling 41 shares during the period. Bruce G. Allen Investments LLC’s holdings in Elevance Health were worth $101,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Raelipskie Partnership acquired a new position in shares of Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health during the 3rd quarter valued at about $27,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health in the second quarter worth approximately $30,000. Eastern Bank acquired a new position in Elevance Health in the third quarter valued at approximately $31,000. Finally, Dunhill Financial LLC grew its position in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

NYSE ELV traded down $1.32 during trading hours on Friday, hitting $381.92. The company had a trading volume of 1,363,063 shares, compared to its average volume of 1,386,190. The firm has a 50 day simple moving average of $392.04 and a 200 day simple moving average of $473.32. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market capitalization of $88.58 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $8.99 EPS. Equities research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.71%. Elevance Health’s dividend payout ratio is currently 23.77%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.