Hyperion Capital Advisors LP Acquires 10,105 Shares of Elevance Health, Inc. (NYSE:ELV)

Hyperion Capital Advisors LP increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 26.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,998 shares of the company’s stock after purchasing an additional 10,105 shares during the quarter. Elevance Health accounts for about 9.3% of Hyperion Capital Advisors LP’s holdings, making the stock its 3rd largest holding. Hyperion Capital Advisors LP’s holdings in Elevance Health were worth $18,075,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ELV. Tobam boosted its position in Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Jacobi Capital Management LLC grew its stake in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after buying an additional 27 shares in the last quarter. Austin Private Wealth LLC raised its holdings in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after buying an additional 29 shares during the period. Quent Capital LLC lifted its position in Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after acquiring an additional 30 shares in the last quarter. Finally, RDA Financial Network boosted its holdings in Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company’s stock worth $2,355,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ELV has been the subject of several analyst reports. Truist Financial upped their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Guggenheim reaffirmed a “buy” rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $478.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Barclays raised their price target on shares of Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $510.38.

Elevance Health Price Performance

Shares of NYSE ELV opened at $404.52 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market capitalization of $91.40 billion, a PE ratio of 15.80, a P/E/G ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business’s fifty day moving average price is $424.13 and its two-hundred day moving average price is $404.51.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, June 10th. Elevance Health’s payout ratio is currently 26.69%.

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.