Catalyst Financial Partners LLC Increases Position in Elevance Health, Inc. (NYSE:ELV)

Catalyst Financial Partners LLC lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 918 shares of the company’s stock after acquiring an additional 26 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Elevance Health were worth $477,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Elevance Health by 3.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 85,708 shares of the company’s stock valued at $44,443,000 after buying an additional 2,926 shares in the last quarter. Norden Group LLC purchased a new position in shares of Elevance Health in the first quarter valued at $3,486,000. Catalytic Wealth RIA LLC purchased a new stake in Elevance Health during the 1st quarter worth about $291,000. Van ECK Associates Corp lifted its holdings in Elevance Health by 5.1% during the 1st quarter. Van ECK Associates Corp now owns 11,864 shares of the company’s stock worth $6,152,000 after purchasing an additional 575 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Elevance Health by 14.4% in the first quarter. J.W. Cole Advisors Inc. now owns 1,137 shares of the company’s stock valued at $589,000 after acquiring an additional 143 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ELV has been the topic of a number of analyst reports. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Cantor Fitzgerald decreased their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, TD Cowen dropped their price objective on 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average target price of $551.07.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s 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 sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Trading Down 0.4 %

NYSE:ELV opened at $409.00 on Thursday. The company’s 50-day simple moving average is $507.35 and its 200 day simple moving average is $522.74. Elevance Health, Inc. has a one year low of $397.98 and a one year high of $567.26. The firm has a market capitalization of $95.06 billion, a P/E ratio of 15.52, a PEG ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the firm posted $8.99 EPS. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.59%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

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.