Commerzbank Aktiengesellschaft FI Increases Stake in Elevance Health, Inc. (NYSE:ELV)

Commerzbank Aktiengesellschaft FI increased its position in Elevance Health, Inc. (NYSE:ELV) by 35.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,437 shares of the company’s stock after purchasing an additional 374 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Elevance Health were worth $748,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new stake in Elevance Health in the 2nd quarter worth about $27,000. Palisade Asset Management LLC bought a new position in Elevance Health in the 1st quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in Elevance Health in the 2nd quarter worth about $28,000. Strategic Financial Concepts LLC bought a new position in Elevance Health in the 2nd quarter worth about $30,000. Finally, Eastern Bank bought a new position in Elevance Health in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $415.54 on Thursday. The business has a 50 day moving average of $519.97 and a 200 day moving average of $525.88. The company has a market capitalization of $96.58 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.99 EPS. On average, sell-side analysts predict that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.57%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ELV shares. Royal Bank of Canada cut their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Morgan Stanley cut their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday. Bank of America restated a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Elevance Health in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $551.07.

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.