DekaBank Deutsche Girozentrale Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

DekaBank Deutsche Girozentrale increased its position in Elevance Health, Inc. (NYSE:ELV) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 355,969 shares of the company’s stock after acquiring an additional 12,706 shares during the period. DekaBank Deutsche Girozentrale owned about 0.16% of Elevance Health worth $152,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELV. Norges Bank bought a new stake in Elevance Health during the 4th quarter worth approximately $1,135,014,000. Wellington Management Group LLP increased its stake in Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Elevance Health by 81,726.5% during the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock worth $641,355,000 after acquiring an additional 1,472,712 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after buying an additional 895,658 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In related news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by insiders.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $0.84 on Tuesday, hitting $346.04. 112,279 shares of the company were exchanged, compared to its average volume of 1,729,236. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $386.32 and a 200 day moving average price of $398.50. The stock has a market capitalization of $78.18 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 1-year low of $343.72 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. As a group, sell-side analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.98%. Elevance Health’s dividend payout ratio is presently 26.69%.

Analyst Ratings Changes

Several research analysts have commented on ELV shares. Wall Street Zen raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Barclays cut their target price on Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research note on Monday, June 2nd. Argus set a $465.00 price objective on Elevance Health in a report on Friday, April 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $498.87.

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.