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

Hyperion Capital Advisors LP reduced its holdings in Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,893 shares of the company’s stock after selling 512 shares during the quarter. Elevance Health accounts for about 9.5% of Hyperion Capital Advisors LP’s investment portfolio, making the stock its 2nd largest holding. Hyperion Capital Advisors LP’s holdings in Elevance Health were worth $20,224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Financial Counselors Inc. boosted its position in shares of Elevance Health by 2.7% during the third quarter. Financial Counselors Inc. now owns 1,953 shares of the company’s stock worth $1,016,000 after buying an additional 51 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Elevance Health by 12.3% during the third quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company’s stock worth $5,217,000 after buying an additional 1,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Elevance Health by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 265,927 shares of the company’s stock worth $138,282,000 after buying an additional 8,691 shares during the period. Finally, 140 Summer Partners LP boosted its position in shares of Elevance Health by 54.3% during the third quarter. 140 Summer Partners LP now owns 133,059 shares of the company’s stock worth $69,191,000 after buying an additional 46,800 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

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

Elevance Health Stock Up 0.2 %

ELV stock opened at $402.80 on Thursday. Elevance Health, Inc. has a fifty-two week low of $391.02 and a fifty-two week 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. The stock has a market capitalization of $93.42 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.21 and a beta of 0.85. The business’s fifty day moving average price is $452.22 and its two-hundred day moving average price is $506.22.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the company earned $8.99 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on ELV. Barclays reduced their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $539.20.

About Elevance Health

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.