Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Catalina Capital Group LLC

Catalina Capital Group LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,656 shares of the company’s stock after acquiring an additional 27 shares during the period. Catalina Capital Group LLC’s holdings in Elevance Health were worth $861,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Iridian Asset Management LLC CT raised its holdings in Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after acquiring an additional 3,786 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after purchasing an additional 532,016 shares in the last quarter. abrdn plc raised its stake in Elevance Health by 32.2% in the third quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after buying an additional 87,717 shares in the last quarter. Blair William & Co. IL lifted its holdings in Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after buying an additional 6,610 shares during the last quarter. Finally, AMI Investment Management Inc. purchased a new position in shares of Elevance Health in the 3rd quarter valued at about $1,294,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Elevance Health Stock Performance

Shares of ELV opened at $417.77 on Wednesday. The company has a 50-day moving average of $496.81 and a two-hundred day moving average of $519.96. The stock has a market cap of $96.89 billion, a P/E ratio of 15.23, a PEG ratio of 1.23 and a beta of 0.85. Elevance Health, Inc. has a 12-month low of $397.98 and a 12-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.

Elevance Health (NYSE:ELV) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $8.99 earnings per share. As a group, research analysts predict that Elevance Health, Inc. will post 32.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ELV shares. Bank of America restated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, TD Cowen decreased their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.