Grafton Street Partners Fund LP Invests $11.52 Million in Elevance Health, Inc. (NYSE:ELV)

Grafton Street Partners Fund LP acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 31,215 shares of the company's stock, valued at approximately $11,515,000. Elevance Health comprises 8.4% of Grafton Street Partners Fund LP's portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. Tobam grew its position in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company's stock worth $160,000 after purchasing an additional 27 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company's stock worth $325,000 after acquiring an additional 27 shares during the period. Austin Private Wealth LLC grew its holdings in shares of Elevance Health by 1.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,996 shares of the company's stock worth $736,000 after acquiring an additional 29 shares during the period. Quent Capital LLC increased its position in Elevance Health by 2.1% during the fourth quarter. Quent Capital LLC now owns 1,488 shares of the company's stock valued at $549,000 after acquiring an additional 30 shares during the last quarter. Finally, RDA Financial Network lifted its holdings in Elevance Health by 0.5% in the fourth quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after acquiring an additional 32 shares during the period. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

Elevance Health stock traded down $7.24 during midday trading on Friday, reaching $421.55. 1,534,488 shares of the stock traded hands, compared to its average volume of 1,457,101. The stock has a market cap of $95.43 billion, a P/E ratio of 16.46, a PEG ratio of 1.18 and a beta of 0.77. The stock's fifty day moving average is $419.22 and its 200-day moving average is $408.94. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

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, beating analysts' consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors 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 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is 26.71%.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction 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 approximately $8,061,809.14. The trade was a 19.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. Corporate insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ELV. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays lifted their price target on shares of Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday. Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $509.44.

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.