Commerzbank Aktiengesellschaft FI Buys 8,946 Shares of Elevance Health, Inc. $ELV

Commerzbank Aktiengesellschaft FI boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 164.7% in the first quarter, Holdings Channel reports. The firm owned 14,377 shares of the company’s stock after purchasing an additional 8,946 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Elevance Health were worth $4,209,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after buying an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after buying an additional 455,946 shares in the last quarter. First Eagle Investment Management LLC grew its position in Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after acquiring an additional 24,271 shares during the last quarter. Finally, Invesco Ltd. grew its position in Elevance Health by 50.3% in the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after acquiring an additional 1,306,390 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $381.82 on Tuesday. The business has a 50-day moving average of $399.56 and a 200-day moving average of $355.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $8.84 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 27.08 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research reports. Barclays dropped their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a report on Thursday. Finally, Truist Financial upped their price objective on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.