Raiffeisen Bank International AG Cuts Stock Position in Elevance Health, Inc. $ELV

Raiffeisen Bank International AG decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 18.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,827 shares of the company’s stock after selling 427 shares during the quarter. Raiffeisen Bank International AG’s holdings in Elevance Health were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Elevance Health by 3.1% during the first quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock valued at $9,635,281,000 after acquiring an additional 666,534 shares in the last quarter. Sanders Capital LLC grew its position in Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in Elevance Health by 31.4% during the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after purchasing an additional 680,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after buying an additional 324,040 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Elevance Health by 1.2% in the first quarter. Invesco Ltd. now owns 2,116,289 shares of the company’s stock worth $920,501,000 after buying an additional 24,833 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. TD Cowen lifted their target price on Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. upped their price target on Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Finally, Robert W. Baird decreased their target price on Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and a consensus price target of $397.33.

Elevance Health Stock Performance

ELV opened at $324.64 on Wednesday. The company’s 50 day moving average is $330.37 and its 200 day moving average is $339.63. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market cap of $72.15 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the prior year, the company earned $8.37 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. On average, equities research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

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.