Rep. Robert Bresnahan, Jr. Sells Off Shares of Elevance Health, Inc. (NYSE:ELV)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Elevance Health, Inc. NYSE: ELV. In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Elevance Health stock on January 13th. The trade occurred in the Representative's "JOINT OWNERSHIP LPL ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Lowe's Companies NYSE: LOW on 2/7/2025.
• Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Take-Two Interactive Software NASDAQ: TTWO on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/3/2025.
• Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 1/30/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 1/29/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Manhattan Associates NASDAQ: MANH on 1/29/2025.
• Sold $1,001 - $15,000 in shares of Credo Technology Group NASDAQ: CRDO on 1/29/2025.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $6.10 during midday trading on Tuesday, hitting $383.15. The company's stock had a trading volume of 271,887 shares, compared to its average volume of 1,599,435. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market cap of $88.86 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business's 50 day simple moving average is $384.96 and its 200 day simple moving average is $447.12.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, analysts forecast that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.79%. Elevance Health's dividend payout ratio is presently 25.46%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Argus reaffirmed a "hold" rating and set a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Mizuho decreased their price objective on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $517.03.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds and other institutional investors have recently modified their holdings of ELV. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $25,000. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $26,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the 4th quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the third quarter worth approximately $27,000. Finally, OFI Invest Asset Management purchased a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.