Hound Partners LLC Takes $1.15 Million Position in Elevance Health, Inc. $ELV

Key Points

• Hound Partners initiated a $1.15 million position in Elevance Health during the first quarter by purchasing 3,935 shares. Institutional investors and hedge funds collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, exceeding the $6.21 analyst consensus, while revenue reached $49.83 billion. The company also declared a quarterly dividend of $1.72 per share, representing a 1.8% annualized yield.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and eight Holds, producing a “Moderate Buy” consensus and an average price target of $440.90 versus the stock’s recent $377.39 price.

Hound Partners LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,935 shares of the company's stock, valued at approximately $1,152,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WealthCollab LLC increased its holdings in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after purchasing an additional 27 shares during the period. Signet Financial Management LLC grew its position in Elevance Health by 3.5% in the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company's stock valued at $245,000 after buying an additional 28 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its stake in Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock valued at $289,000 after buying an additional 29 shares during the period. Perigon Wealth Management LLC increased its stake in Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock valued at $481,000 after buying an additional 29 shares during the period. Finally, Savvy Advisors Inc. raised its position in Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Elevance Health Trading Down 0.1%

NYSE:ELV opened at $377.39 on Monday. The company has a market capitalization of $81.84 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67. 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, Inc. has a 52-week low of $273.71 and a 52-week high of $436.24. The stock has a fifty day simple moving average of $398.69 and a 200-day simple moving average of $356.47.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts' consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. During the same period in the prior year, the company earned $8.84 EPS. The firm's revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Elevance Health, Inc. will post 27.04 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health's dividend payout ratio is 30.58%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Elevance Health from a "hold" rating to a "buy" rating and increased their target price for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Jefferies Financial Group dropped their price objective on Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Leerink Partners increased their price objective on Elevance Health from $364.00 to $395.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Finally, Morgan Stanley lifted their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $440.90.

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.

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