Grafton Street Partners Fund LP Takes $11.52 Million Position in Elevance Health, Inc. (NYSE:ELV)

Grafton Street Partners Fund LP acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 31,215 shares of the company's stock, valued at approximately $11,515,000. Elevance Health comprises approximately 8.4% of Grafton Street Partners Fund LP's investment portfolio, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $1,135,014,000. Wellington Management Group LLP raised its holdings in shares of Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC grew its stake in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after purchasing an additional 1,039,612 shares during the period. Orion Portfolio Solutions LLC grew its stake in Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after purchasing an additional 895,658 shares during the period. Finally, Artisan Partners Limited Partnership grew its stake in Elevance Health by 17.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,875,850 shares of the company's stock worth $1,060,901,000 after purchasing an additional 437,103 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV traded down $7.24 during mid-day trading on Friday, hitting $421.55. 1,534,488 shares of the company traded hands, compared to its average volume of 1,460,139. 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 quick ratio of 1.50 and a current ratio of 1.45. The stock has a 50-day moving average price of $420.00 and a two-hundred day moving average price of $407.30. The stock has a market cap of $95.43 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.71%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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. Over the last quarter, insiders have sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Wells Fargo & Company reduced their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $509.44.

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.