Brookstone Capital Management Sells 169 Shares of Elevance Health, Inc. (NYSE:ELV)

Brookstone Capital Management lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,230 shares of the company’s stock after selling 169 shares during the period. Brookstone Capital Management’s holdings in Elevance Health were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Czech National Bank lifted its stake in shares of Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after purchasing an additional 3,049 shares during the last quarter. Iridian Asset Management LLC CT lifted its position in shares of Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after buying an additional 3,786 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after buying an additional 532,016 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Elevance Health by 1,711.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock valued at $27,858,000 after buying an additional 50,603 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of Elevance Health by 13.7% in the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, UBS Group cut their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $384.26 on Friday. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a market cap of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The company’s 50 day moving average is $388.79 and its 200 day moving average is $468.15.

Elevance Health (NYSE:ELV) last released 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). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the company earned $8.99 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

About Elevance Health

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.