Castleview Partners LLC Raises Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Castleview Partners LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 36.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,168 shares of the company's stock after buying an additional 842 shares during the period. Elevance Health accounts for 0.9% of Castleview Partners LLC's portfolio, making the stock its 23rd biggest position. Castleview Partners LLC's holdings in Elevance Health were worth $1,378,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Elser Financial Planning Inc raised its holdings in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after acquiring an additional 26 shares in the last quarter. Meriwether Wealth & Planning LLC raised its holdings in shares of Elevance Health by 33.7% during the first quarter. Meriwether Wealth & Planning LLC now owns 2,144 shares of the company's stock valued at $933,000 after acquiring an additional 540 shares in the last quarter. Stableford Capital II LLC raised its holdings in shares of Elevance Health by 84.5% during the first quarter. Stableford Capital II LLC now owns 4,256 shares of the company's stock valued at $1,807,000 after acquiring an additional 1,949 shares in the last quarter. LongView Wealth Management raised its holdings in shares of Elevance Health by 11.4% during the first quarter. LongView Wealth Management now owns 824 shares of the company's stock valued at $358,000 after acquiring an additional 84 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC raised its holdings in shares of Elevance Health by 5.5% during the first quarter. Trivant Custom Portfolio Group LLC now owns 6,579 shares of the company's stock valued at $2,862,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Elevance Health Stock Down 0.6%

Shares of NYSE:ELV traded down $2.20 on Friday, hitting $373.71. 2,939,325 shares of the company traded hands, compared to its average volume of 1,570,419. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $398.68 and a 200-day simple moving average of $399.11. The company has a market cap of $84.43 billion, a PE ratio of 14.58, a PEG ratio of 0.95 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.83%. Elevance Health's payout ratio is presently 26.69%.

Analyst Ratings Changes

ELV has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a report on Wednesday, June 4th. Argus set a $465.00 price objective on Elevance Health in a report on Friday, April 25th. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Truist Financial set a $500.00 price objective on Elevance Health and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health 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.