D1 Capital Partners L.P. Lowers Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

D1 Capital Partners L.P. reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 44.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,932 shares of the company’s stock after selling 233,700 shares during the quarter. Elevance Health comprises approximately 2.7% of D1 Capital Partners L.P.’s holdings, making the stock its 14th largest position. D1 Capital Partners L.P. owned 0.13% of Elevance Health worth $160,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co purchased a new stake in shares of Elevance Health in the second quarter worth $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in Elevance Health during the 4th quarter valued at about $28,000. Palisade Asset Management LLC bought a new stake in Elevance Health during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in Elevance Health in the second quarter worth about $28,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Elevance Health in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research analyst reports. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Barclays lowered their price objective on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Friday. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price for the company. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and an average price target of $604.29.

Insider Activity

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by insiders.

Elevance Health Price Performance

ELV stock opened at $539.86 on Monday. The company has a market capitalization of $125.47 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. The company’s fifty day moving average price is $536.19 and its 200-day moving average price is $529.47. Elevance Health, Inc. has a one year low of $431.38 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter in the prior year, the firm earned $9.04 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 37.25 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

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.