Hyperion Capital Advisors LP Takes Position in Elevance Health, Inc. $ELV

Hyperion Capital Advisors LP purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 42,924 shares of the company’s stock, valued at approximately $16,600,000. Elevance Health accounts for approximately 7.5% of Hyperion Capital Advisors LP’s holdings, making the stock its 3rd biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of ELV. Stoneridge Investment Partners LLC acquired a new stake in shares of Elevance Health during the second quarter worth $970,000. Manning & Napier Advisors LLC increased its holdings in Elevance Health by 1,423.1% in the fourth quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock valued at $129,152,000 after purchasing an additional 344,237 shares during the last quarter. State of Wyoming acquired a new position in Elevance Health in the second quarter valued at about $1,765,000. Mawer Investment Management Ltd. lifted its stake in Elevance Health by 10.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company’s stock valued at $72,597,000 after buying an additional 20,438 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Elevance Health by 7.8% during the second quarter. Handelsbanken Fonder AB now owns 79,811 shares of the company’s stock worth $30,865,000 after buying an additional 5,772 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Up 0.5%

Shares of Elevance Health stock opened at $402.62 on Tuesday. The company has a market capitalization of $87.32 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The business has a 50-day moving average of $394.79 and a two-hundred day moving average of $360.49. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the previous year, the business posted $8.84 EPS. Elevance Health’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Analyst Upgrades and Downgrades

ELV has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Bank of America increased their price target on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Finally, Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.