Elevance Health, Inc. $ELV Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% in the second quarter, Holdings Channel reports. The firm owned 343,263 shares of the company’s stock after selling 12,706 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Elevance Health were worth $131,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELV. Private Wealth Management Group LLC increased its position in shares of Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Elevance Health during the 1st quarter worth about $29,000. North Capital Inc. acquired a new stake in shares of Elevance Health during the 1st quarter worth about $36,000. Saudi Central Bank acquired a new stake in shares of Elevance Health during the 1st quarter worth about $40,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Elevance Health during the 1st quarter worth about $43,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $354.33 on Tuesday. The stock has a 50-day simple moving average of $323.21 and a 200-day simple moving average of $354.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $79.79 billion, a PE ratio of 15.08, a PEG ratio of 1.27 and a beta of 0.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Leerink Partnrs downgraded Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. UBS Group dropped their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Argus reaffirmed a “hold” rating on shares of Elevance Health in a research report on Monday, July 21st. Wells Fargo & Company lifted their target price on Elevance Health from $330.00 to $412.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Finally, Bank of America lifted their target price on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.06.

Insider Activity

In related news, Director Susan D. Devore acquired 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the purchase, the director owned 3,502 shares of the company’s stock, valued at $1,093,149.30. This represents a 52.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

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.