Bryn Mawr Capital Management LLC Sells 85 Shares of Elevance Health, Inc. (NYSE:ELV)

Bryn Mawr Capital Management LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,439 shares of the company’s stock after selling 85 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Elevance Health were worth $1,150,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in Elevance Health in the 3rd quarter valued at $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health in the fourth quarter worth $31,000. ORG Partners LLC bought a new stake in shares of Elevance Health in the fourth quarter worth $40,000. Orion Capital Management LLC bought a new stake in shares of Elevance Health in the third quarter worth $46,000. Finally, Milestone Investment Advisors LLC bought a new stake in Elevance Health during the third quarter valued at $51,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Elevance Health Stock Down 0.4 %

Elevance Health stock opened at $537.26 on Friday. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $542.07. The firm has a 50 day moving average price of $511.89 and a 200-day moving average price of $486.40. The company has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a P/E/G 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 (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the prior year, the firm earned $9.46 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 37.24 EPS for the current year.

Elevance Health Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ELV. Mizuho upped their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. UBS Group upped their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

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.