North Peak Capital Management LLC Takes $71.79 Million Position in Elevance Health, Inc. (NYSE:ELV)

North Peak Capital Management LLC purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 194,614 shares of the company’s stock, valued at approximately $71,793,000. Elevance Health makes up approximately 9.5% of North Peak Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. North Peak Capital Management LLC owned about 0.08% of Elevance Health as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the 4th quarter valued at about $26,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $29,000. Finally, Crews Bank & Trust bought a new position in Elevance Health during the 4th quarter valued at approximately $34,000. Institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ELV. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $514.41.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 1,847 shares in the company, 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 firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $424.44 on Friday. The company has a 50-day moving average price of $416.77 and a 200-day moving average price of $411.07. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $96.09 billion, a P/E ratio of 16.57, a PEG ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.61%. Elevance Health’s dividend payout ratio is presently 26.71%.

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.