Two Sigma Advisers LP Grows Stake in Elevance Health, Inc. (NYSE:ELV)

Two Sigma Advisers LP grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 1,448.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 257,000 shares of the company's stock after buying an additional 240,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.11% of Elevance Health worth $94,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ELV. Norges Bank purchased a new stake in Elevance Health in the 4th quarter worth approximately $1,135,014,000. Wellington Management Group LLP raised its position in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock worth $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after acquiring an additional 895,658 shares in the last quarter. Finally, D1 Capital Partners L.P. bought a new position in shares of Elevance Health in the 4th quarter worth approximately $294,751,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 3.4%

ELV stock opened at $403.20 on Monday. Elevance Health, Inc. has a twelve month low of $357.45 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $91.10 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The business has a 50 day moving average of $422.47 and a 200 day moving average of $403.64.

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

Elevance Health Dividend Announcement

The firm 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 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 report on Wednesday, April 9th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health Company 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.

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