North Peak Capital Management LLC Purchases 115,460 Shares of Elevance Health, Inc. $ELV

North Peak Capital Management LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 40.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,670 shares of the company’s stock after acquiring an additional 115,460 shares during the quarter. Elevance Health makes up 12.3% of North Peak Capital Management LLC’s investment portfolio, making the stock its 4th largest position. North Peak Capital Management LLC owned approximately 0.18% of Elevance Health worth $156,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Elevance Health during the second quarter worth about $1,148,379,000. Nuveen LLC bought a new position in shares of Elevance Health in the 1st quarter worth about $789,943,000. Sanders Capital LLC grew its holdings in shares of Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after acquiring an additional 704,790 shares during the last quarter. Finally, Orbis Allan Gray Ltd increased its stake in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after purchasing an additional 680,228 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 1.9%

Shares of Elevance Health stock opened at $332.15 on Friday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The business’s 50 day simple moving average is $333.18 and its 200 day simple moving average is $335.64. The firm has a market cap of $73.82 billion, a PE ratio of 13.58, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the firm posted $8.37 EPS. Elevance Health’s revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

Wall Street Analyst Weigh In

ELV has been the subject of several research analyst reports. Truist Financial set a $400.00 price target on shares of Elevance Health in a research report on Tuesday, October 14th. UBS Group cut their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Guggenheim increased their price target on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. TD Cowen boosted their price target on shares of Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays lowered their price target on Elevance Health from $395.00 to $385.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Hold” and an average price target of $398.44.

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.