D1 Capital Partners L.P. Acquires Shares of 799,000 Elevance Health, Inc. (NYSE:ELV)

D1 Capital Partners L.P. acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 799,000 shares of the company's stock, valued at approximately $294,751,000. Elevance Health accounts for about 4.9% of D1 Capital Partners L.P.'s portfolio, making the stock its 5th biggest position. D1 Capital Partners L.P. owned about 0.34% of Elevance Health as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Syon Capital LLC lifted its position in Elevance Health by 1.3% during the 4th quarter. Syon Capital LLC now owns 3,698 shares of the company's stock worth $1,364,000 after acquiring an additional 49 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Elevance Health by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after acquiring an additional 464,137 shares during the period. Alta Advisers Ltd lifted its position in Elevance Health by 28.5% during the 4th quarter. Alta Advisers Ltd now owns 771 shares of the company's stock worth $284,000 after acquiring an additional 171 shares during the period. Eversept Partners LP lifted its position in Elevance Health by 49.9% during the 4th quarter. Eversept Partners LP now owns 29,178 shares of the company's stock worth $10,764,000 after acquiring an additional 9,713 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Elevance Health by 4.5% during the 4th quarter. Hsbc Holdings PLC now owns 760,804 shares of the company's stock worth $280,793,000 after acquiring an additional 32,736 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock traded down $2.97 during mid-day trading on Tuesday, hitting $410.85. 467,440 shares of the company were exchanged, compared to its average volume of 1,711,676. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market capitalization of $92.83 billion, a P/E ratio of 16.04, a PEG ratio of 1.18 and a beta of 0.77. The business's 50 day simple moving average is $420.43 and its two-hundred day simple moving average is $406.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.66%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their position. 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 stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ELV shares. Guggenheim reissued a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Stephens downgraded Elevance Health from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Truist Financial increased their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $510.38.

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.