Monument Capital Management Sells 129 Shares of Elevance Health, Inc. (NYSE:ELV)

Monument Capital Management lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 20.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 513 shares of the company’s stock after selling 129 shares during the period. Monument Capital Management’s holdings in Elevance Health were worth $266,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Elevance Health in the fourth quarter worth about $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $467,141,000. Canoe Financial LP raised its stake in shares of Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after buying an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC acquired a new position in Elevance Health in the fourth quarter valued at approximately $239,244,000. Finally, International Assets Investment Management LLC boosted its stake in Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after acquiring an additional 255,138 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Robert W. Baird started coverage on shares of Elevance Health in a research report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price for the company. Bank of America upped their price objective on Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Morgan Stanley initiated coverage on Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $611.36.

Elevance Health Stock Down 1.1 %

Elevance Health stock opened at $530.22 on Thursday. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $550.34. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $534.47 and a 200-day moving average of $509.86. The stock has a market capitalization of $123.23 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84.

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

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction 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 owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Company 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.