Hyperion Capital Advisors LP Has $20.22 Million Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Hyperion Capital Advisors LP lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 38,893 shares of the company’s stock after selling 512 shares during the period. Elevance Health comprises 9.5% of Hyperion Capital Advisors LP’s holdings, making the stock its 2nd largest holding. Hyperion Capital Advisors LP’s holdings in Elevance Health were worth $20,224,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Sanders Capital LLC raised its stake in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after acquiring an additional 44,805 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Elevance Health by 5.3% during the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after buying an additional 190,118 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Elevance Health by 16.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the last quarter. Legal & General Group Plc raised its stake in Elevance Health by 2.9% during the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after buying an additional 64,376 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Elevance Health by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,152,613 shares of the company’s stock worth $1,119,359,000 after buying an additional 31,740 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Up 0.2 %

Shares of NYSE ELV opened at $402.80 on Thursday. The stock has a market capitalization of $93.42 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.21 and a beta of 0.85. The company has a 50-day moving average price of $452.22 and a 200-day moving average price of $506.22. Elevance Health, Inc. has a 1 year low of $391.02 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the company posted $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.62%. Elevance Health’s payout ratio is currently 23.77%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. UBS Group decreased their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Morgan Stanley decreased their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Mizuho decreased their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health 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.