North Peak Capital Management LLC Makes New $71.79 Million Investment in Elevance Health, Inc. (NYSE:ELV)

North Peak Capital Management LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 194,614 shares of the company’s stock, valued at approximately $71,793,000. Elevance Health comprises about 9.5% of North Peak Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tobam boosted its position in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after acquiring an additional 27 shares during the last quarter. Jacobi Capital Management LLC raised its stake in Elevance Health by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC lifted its position in Elevance Health by 1.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC grew its stake in shares of Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock worth $549,000 after buying an additional 30 shares in the last quarter. Finally, RDA Financial Network increased its holdings in shares of Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company’s stock worth $2,355,000 after buying an additional 32 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 price objective (down from $625.00) on shares of Elevance Health in a research note on Tuesday. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Truist Financial increased their price target on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $514.41.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of ELV opened at $424.44 on Friday. The company’s fifty day moving average price is $416.77 and its 200-day moving average price is $411.07. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market capitalization of $96.09 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a $1.71 dividend. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

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.