Catalina Capital Group LLC Sells 655 Shares of Elevance Health, Inc. (NYSE:ELV)

Catalina Capital Group LLC decreased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 39.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,001 shares of the company's stock after selling 655 shares during the period. Catalina Capital Group LLC's holdings in Elevance Health were worth $369,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. JB Capital LLC boosted its stake in Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after purchasing an additional 8,038 shares in the last quarter. Chicago Capital LLC boosted its position in shares of Elevance Health by 7.2% in the 4th quarter. Chicago Capital LLC now owns 2,169 shares of the company's stock valued at $800,000 after purchasing an additional 145 shares during the period. Oregon Pacific Wealth Management LLC purchased a new stake in Elevance Health during the fourth quarter valued at about $532,000. CENTRAL TRUST Co grew its position in Elevance Health by 12.7% during the 4th quarter. CENTRAL TRUST Co now owns 1,726 shares of the company's stock worth $637,000 after purchasing an additional 195 shares in the last quarter. Finally, Round Rock Advisors LLC boosted its position in Elevance Health by 1.2% during the 4th quarter. Round Rock Advisors LLC now owns 7,298 shares of the company's stock worth $2,771,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV traded up $0.15 during mid-day trading on Wednesday, hitting $402.13. 1,205,358 shares of the stock were exchanged, compared to its average volume of 1,776,789. The firm's 50-day simple moving average is $386.46 and its 200 day simple moving average is $455.31. The stock has a market capitalization of $93.26 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. Elevance Health, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts anticipate that Elevance Health, Inc. will post 34.07 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. Elevance Health's payout ratio is presently 25.46%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ELV. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a report on Monday, October 21st. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Argus reiterated a "hold" rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Finally, Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $517.03.

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.