Two Sigma Investments LP Grows Position in Elevance Health, Inc. (NYSE:ELV)

Two Sigma Investments LP boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 247.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 501,494 shares of the company's stock after acquiring an additional 357,257 shares during the quarter. Two Sigma Investments LP owned about 0.22% of Elevance Health worth $185,001,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ELV. Norges Bank purchased a new position in Elevance Health in the fourth quarter worth $1,135,014,000. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in 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 buying an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of 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 valued at $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after buying an additional 895,658 shares in the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in shares of Elevance Health in the fourth quarter valued at $294,751,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho raised their price target on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Royal Bank of Canada restated an "outperform" rating and issued a $478.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and an average price target of $510.38.

Elevance Health Stock Up 3.4%

Shares of NYSE:ELV opened at $403.20 on Monday. The stock's 50-day moving average price is $422.47 and its two-hundred day moving average price is $403.64. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The firm has a market cap of $91.10 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.18 and a beta of 0.66.

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

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Activity

In other news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 in the last three months. Corporate insiders own 0.29% of the company's stock.

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.

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