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

by · The Markets Daily

Castellan Group increased its stake in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) by 98.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,362 shares of the company’s stock after acquiring an additional 5,642 shares during the period. Elevance Health makes up about 1.4% of Castellan Group’s investment portfolio, making the stock its 28th largest position. Castellan Group’s holdings in Elevance Health were worth $4,942,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $25,000. Private Wealth Management Group LLC raised its holdings in Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. Riverview Trust Co lifted its position in Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. North Capital Inc. purchased a new stake in Elevance Health in the 1st quarter valued at approximately $36,000. Finally, Orion Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In related news, CEO Gail Boudreaux acquired 8,500 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Argus reiterated a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. UBS Group restated a “buy” rating and set a $484.00 target price (down from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Finally, Barclays lowered their price target on shares of Elevance Health from $434.00 to $358.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $418.19.

Check Out Our Latest Research Report on Elevance Health

Elevance Health Stock Performance

Shares of ELV opened at $283.04 on Friday. Elevance Health, Inc. has a 12-month low of $274.40 and a 12-month high of $567.26. The stock has a market cap of $63.73 billion, a P/E ratio of 12.04, a PEG ratio of 1.08 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $351.82 and a two-hundred day moving average of $389.87.

Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. The business had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. During the same period last year, the business earned $10.12 earnings per share. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 10th. Elevance Health’s dividend payout ratio is currently 29.11%.

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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