Catalina Capital Group LLC Has $440,000 Stake in Elevance Health, Inc. (NYSE:ELV)

Catalina Capital Group LLC raised its holdings in Elevance Health, Inc. (NYSE:ELVFree Report) by 85.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 849 shares of the company’s stock after purchasing an additional 392 shares during the quarter. Catalina Capital Group LLC’s holdings in Elevance Health were worth $440,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ELV. abrdn plc raised its position in shares of Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after acquiring an additional 129,364 shares during the last quarter. Cerity Partners LLC increased its holdings in Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares during the last quarter. Canoe Financial LP increased its holdings in Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Elevance Health in the fourth quarter valued at about $218,000. Finally, Tower Research Capital LLC TRC increased its holdings in Elevance Health by 114.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after purchasing an additional 16,737 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ELV shares. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. UBS Group boosted their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. Robert W. Baird initiated coverage on Elevance Health in a research note on Thursday, May 30th. They issued an “outperform” rating and a $649.00 target price for the company. Finally, Bank of America boosted their target price on Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $611.36.

View Our Latest Analysis on Elevance Health

Elevance Health Price Performance

NYSE:ELV traded up $5.35 during trading hours on Wednesday, reaching $534.59. 629,762 shares of the company were exchanged, compared to its average volume of 1,013,092. The business has a 50 day moving average of $533.94 and a 200 day moving average of $512.12. The company has a market capitalization of $124.25 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.16 and a beta of 0.84. Elevance Health, Inc. has a 1-year low of $412.00 and a 1-year high of $550.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELVGet Free Report) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the company earned $9.46 EPS. Research analysts forecast that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Transactions at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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