Hyperion Capital Advisors LP Purchases Shares of 42,924 Elevance Health, Inc. $ELV

Hyperion Capital Advisors LP purchased a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,924 shares of the company’s stock, valued at approximately $16,600,000. Elevance Health makes up approximately 7.5% of Hyperion Capital Advisors LP’s investment portfolio, making the stock its 3rd largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kilter Group LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the 4th quarter worth approximately $32,000. WealthCollab LLC boosted its position in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ELV. TD Cowen lifted their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Robert W. Baird raised their target price on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Barclays lowered their price target on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a research report on Thursday, August 13th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Transactions at Elevance Health

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

Elevance Health Stock Up 0.5%

ELV stock opened at $402.62 on Tuesday. The company has a market cap of $87.32 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 2.29 and a beta of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The business has a 50 day moving average price of $394.79 and a two-hundred day moving average price of $360.49. 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 (NYSE:ELV) last announced its quarterly earnings data 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. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.84 EPS. Analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

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.