Castellan Group Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

Castellan Group reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,169 shares of the company’s stock after selling 246 shares during the quarter. Castellan Group’s holdings in Elevance Health were worth $2,688,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Elevance Health by 26.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,329 shares of the company’s stock valued at $7,764,000 after buying an additional 2,985 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Elevance Health by 643.8% during the second quarter. ORG Partners LLC now owns 119 shares of the company’s stock worth $64,000 after purchasing an additional 103 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Elevance Health by 5.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 565 shares of the company’s stock worth $313,000 after purchasing an additional 29 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in shares of Elevance Health by 3.6% in the 2nd quarter. Naples Global Advisors LLC now owns 1,140 shares of the company’s stock valued at $618,000 after purchasing an additional 40 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Elevance Health by 22.1% in the 2nd quarter. Blue Trust Inc. now owns 2,071 shares of the company’s stock valued at $1,074,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $378.43 on Friday. The stock has a market cap of $87.77 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83. Elevance Health, Inc. has a one year low of $377.97 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The business’s fifty day moving average price is $424.53 and its two-hundred day moving average price is $495.40.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the company earned $8.99 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company 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 1.72%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 23.77%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction 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 transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Stephens restated an “underperform” rating on shares of Elevance Health 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 research report on Friday, October 18th. Finally, Raymond James set a $485.00 price target on Elevance Health in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.20.

About Elevance Health

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.