North Peak Capital Management LLC Takes Position in Elevance Health, Inc. (NYSE:ELV)

North Peak Capital Management LLC acquired a new position in shares of 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 firm acquired 194,614 shares of the company's stock, valued at approximately $71,793,000. Elevance Health accounts for approximately 9.5% of North Peak Capital Management LLC's portfolio, making the stock its 6th biggest holding. North Peak Capital Management LLC owned 0.08% of Elevance Health at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new position in Elevance Health in the fourth quarter worth approximately $30,000. Finally, Crews Bank & Trust bought a new position in Elevance Health during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In other news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Performance

NYSE ELV traded up $11.74 during midday trading on Wednesday, hitting $427.64. The company had a trading volume of 1,801,405 shares, compared to its average volume of 1,450,393. The firm has a fifty day simple moving average of $417.66 and a two-hundred day simple moving average of $409.25. The stock has a market cap of $96.81 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.18 and a beta of 0.77. 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 fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for 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%. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.60%. Elevance Health's payout ratio is 26.71%.

Analyst Ratings Changes

Several analysts have commented on the stock. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a research report on Monday, March 17th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $509.44.

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.