Catalyst Funds Management Pty Ltd Buys Shares of 1,300 Elevance Health, Inc. $ELV

Catalyst Funds Management Pty Ltd bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, HoldingsChannel reports. The firm bought 1,300 shares of the company’s stock, valued at approximately $506,000.

Other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $789,943,000. Sanders Capital LLC increased its position in Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after buying an additional 1,152,440 shares in the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 704,790 shares in the last quarter. Orbis Allan Gray Ltd raised its holdings in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after acquiring an additional 680,228 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Elevance Health by 241.3% in the first quarter. Boston Partners now owns 856,737 shares of the company’s stock valued at $372,039,000 after acquiring an additional 605,689 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on Elevance Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective for the company. Truist Financial set a $400.00 price objective on shares of Elevance Health in a research note on Tuesday, October 14th. TD Cowen raised their target price on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Elevance Health in a research note on Monday. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Elevance Health presently has an average rating of “Hold” and an average target price of $397.33.

Elevance Health Stock Performance

Shares of ELV stock opened at $313.70 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $69.72 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75. The company has a 50 day moving average price of $330.56 and a 200 day moving average price of $339.29.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $8.37 EPS. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

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.