943,054 Shares in Elevance Health, Inc. $ELV Purchased by Deutsche Bank AG

Deutsche Bank AG acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 943,054 shares of the company’s stock, valued at approximately $364,707,000. Deutsche Bank AG owned about 0.43% of Elevance Health at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in Elevance Health during the 4th quarter worth $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $32,000. WealthCollab LLC raised its holdings in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after buying an additional 90 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Elevance Health in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $390.69 on Tuesday. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The business has a fifty day moving average of $395.48 and a 200-day moving average of $358.49.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the previous year, the company posted $8.84 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. TD Cowen boosted their price target on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Citigroup upgraded Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Barclays reduced their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $440.90.

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.