Castleview Partners LLC Buys 3,085 Shares of Elevance Health, Inc. $ELV

Castleview Partners LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 86.7% during the 3rd quarter, Holdings Channel reports. The fund owned 6,643 shares of the company’s stock after buying an additional 3,085 shares during the quarter. Elevance Health accounts for about 1.2% of Castleview Partners LLC’s investment portfolio, making the stock its 21st biggest holding. Castleview Partners LLC’s holdings in Elevance Health were worth $2,146,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Elevance Health during the 2nd quarter worth approximately $1,148,379,000. Sanders Capital LLC boosted its holdings in shares of Elevance Health by 24.7% in the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after buying an additional 1,152,440 shares during the period. Beutel Goodman & Co Ltd. bought a new stake in shares of Elevance Health during the second quarter worth $293,141,000. Vanguard Group Inc. raised its holdings in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after acquiring an additional 704,790 shares during the period. Finally, Orbis Allan Gray Ltd lifted its position in Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after acquiring an additional 680,228 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Down 1.3%

ELV opened at $340.27 on Friday. The stock has a market capitalization of $75.62 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.59 and a beta of 0.52. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a 50-day simple moving average of $334.55 and a 200 day simple moving average of $331.31.

Elevance Health (NYSE:ELV) last released its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same period last year, the firm earned $8.37 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

Several analysts recently issued reports on ELV shares. Wells Fargo & Company dropped their target price on Elevance Health from $412.00 to $403.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. UBS Group dropped their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Morgan Stanley reduced their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research report on Wednesday. TD Cowen upped their price objective on shares of Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, Cowen restated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Twelve research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $396.21.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.