Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Castellan Group

Castellan Group raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,720 shares of the company’s stock after acquiring an additional 551 shares during the period. Castellan Group’s holdings in Elevance Health were worth $2,110,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ELV. Exchange Traded Concepts LLC lifted its holdings in shares of Elevance Health by 50.8% during the third quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock worth $1,024,000 after purchasing an additional 664 shares during the period. Sentry LLC lifted its stake in shares of Elevance Health by 0.9% in the 3rd quarter. Sentry LLC now owns 3,209 shares of the company’s stock worth $1,669,000 after acquiring an additional 30 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of Elevance Health by 1.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,336 shares of the company’s stock worth $1,215,000 after acquiring an additional 41 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of Elevance Health by 2.8% during the third quarter. Sumitomo Life Insurance Co. now owns 2,264 shares of the company’s stock worth $1,177,000 after acquiring an additional 61 shares during the period. Finally, Tamar Securities LLC raised its holdings in Elevance Health by 14.0% during the third quarter. Tamar Securities LLC now owns 31,372 shares of the company’s stock worth $16,314,000 after purchasing an additional 3,842 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV stock opened at $385.52 on Thursday. 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 firm has a market capitalization of $89.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The company has a 50 day moving average price of $385.25 and a 200 day moving average price of $451.16.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Elevance Health, Inc. will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ELV shares. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

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.