Elevance Health, Inc. (NYSE:ELV) Stock Position Lifted by Catalina Capital Group LLC

Catalina Capital Group LLC lifted its position in Elevance Health, Inc. (NYSE:ELV) by 1.7% in the 3rd quarter, according to the company in its most recent 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 quarter. Catalina Capital Group LLC’s holdings in Elevance Health were worth $861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bedel Financial Consulting Inc. raised its holdings in shares of Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after acquiring an additional 20 shares during the period. American Trust grew its holdings in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares in the last quarter. Private Ocean LLC raised its position in Elevance Health by 6.7% during the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after buying an additional 22 shares during the period. Hurlow Wealth Management Group Inc. lifted its stake in Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after acquiring an additional 23 shares in the last quarter. Finally, Cypress Wealth Services LLC grew its stake in Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on ELV. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Truist Financial reaffirmed a “buy” rating and set a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. Finally, Mizuho lowered their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Trading Down 0.0 %

Shares of Elevance Health stock opened at $417.77 on Wednesday. The stock has a market capitalization of $96.89 billion, a P/E ratio of 15.23, a price-to-earnings-growth 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 quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $496.81 and a 200 day simple moving average of $519.96.

Elevance Health (NYSE:ELV) last announced 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 business had revenue of $44.72 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.99 earnings per share. Research analysts expect that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 23.77%.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

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.