Hound Partners LLC Takes Position in Elevance Health, Inc. $ELV

Hound Partners LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the first quarter, HoldingsChannel reports. The institutional investor acquired 3,935 shares of the company’s stock, valued at approximately $1,152,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. WealthCollab LLC raised its stake in Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Signet Financial Management LLC boosted its stake in shares of Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock worth $245,000 after purchasing an additional 28 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its holdings in shares of Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after buying an additional 29 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after acquiring an additional 29 shares during the last quarter. Finally, Savvy Advisors Inc. grew its position in shares of Elevance Health by 3.2% in the fourth quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $377.39 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $436.24. The firm has a 50-day simple moving average of $398.69 and a 200 day simple moving average of $356.47. The company has a market cap of $81.84 billion, a PE ratio of 16.77, a P/E/G ratio of 2.17 and a beta of 0.67.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter last year, the company posted $8.84 earnings per share. Elevance Health’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 27.04 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Morgan Stanley increased their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Wells Fargo & Company cut their target price on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. UBS Group increased their price target on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Truist Financial lifted their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $440.90.

About Elevance Health

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.