31,215 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Grafton Street Partners Fund LP

Grafton Street Partners Fund LP purchased a new stake in Elevance Health, Inc. (NYSE:ELV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 31,215 shares of the company’s stock, valued at approximately $11,515,000. Elevance Health comprises 8.4% of Grafton Street Partners Fund LP’s holdings, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at $2,828,000. Te Ahumairangi Investment Management Ltd increased its holdings in shares of Elevance Health by 39.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company’s stock valued at $5,433,000 after purchasing an additional 2,983 shares during the period. Tudor Financial Inc. purchased a new position in shares of Elevance Health in the third quarter worth about $235,000. Anchor Investment Management LLC lifted its holdings in shares of Elevance Health by 22.9% during the third quarter. Anchor Investment Management LLC now owns 6,098 shares of the company’s stock worth $3,171,000 after purchasing an additional 1,135 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in Elevance Health in the third quarter valued at approximately $8,855,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 4.4 %

ELV stock opened at $405.68 on Tuesday. The stock has a market capitalization of $91.84 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a 50-day simple moving average of $417.18 and a 200-day simple moving average of $409.20. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was 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 $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on ELV shares. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial upped their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $508.81.

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.