13,589 Shares in Elevance Health, Inc. $ELV Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Elevance Health, Inc. (NYSE:ELV – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 13,589 shares of the company’s stock, valued at approximately $5,255,000.

A number of other hedge funds have also made changes to their positions in the company. WealthCollab LLC boosted its stake in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Elevance Health in the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health in the 4th quarter valued at $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Elevance Health in the 4th quarter valued at $38,000. Finally, Main Street Group LTD acquired a new stake in Elevance Health during the 1st quarter worth $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

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Insider Buying and Selling at Elevance Health

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

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent research reports. Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. TD Cowen boosted their price target on shares of Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Citigroup raised shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird increased their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Truist Financial raised their target price on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Read Our Latest Research Report on ELV

Elevance Health Stock Down 2.4%

Shares of ELV opened at $390.69 on Tuesday. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $395.48 and a two-hundred day simple moving average of $358.49. The company has a market capitalization of $84.73 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68.

Elevance Health (NYSE:ELV – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the previous year, the company posted $8.84 EPS. The company’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Announces Dividend

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

Elevance Health Company Profile

(Free Report)

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.

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