Baader Bank Aktiengesellschaft Makes New $345,000 Investment in Elevance Health, Inc. $ELV

Key Points

• Baader Bank Aktiengesellschaft has made a new investment in Elevance Health, acquiring 893 shares valued at approximately $345,000.
• Elevance Health reported $49.42 billion in revenue for the last quarter, exceeding analysts' estimates of $48.26 billion, despite missing earnings expectations.
• The company declared a quarterly dividend of $1.71 per share, with an annualized dividend yield of 2.2%, set to be paid on September 25.

Baader Bank Aktiengesellschaft acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 893 shares of the company's stock, valued at approximately $345,000.

Other hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new position in shares of Elevance Health in the 1st quarter valued at about $299,000. Focus Partners Wealth grew its holdings in shares of Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after acquiring an additional 982 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after acquiring an additional 1,588 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Elevance Health in the 1st quarter valued at about $522,000. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after acquiring an additional 817 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 0.6%

Shares of ELV stock opened at $313.90 on Friday. The firm has a 50 day moving average price of $303.03 and a two-hundred day moving average price of $367.83. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $70.68 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $542.22.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same quarter last year, the business earned $10.12 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is presently 29.11%.

Insider Buying and Selling

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company's stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the transaction, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the company's stock in a transaction dated Friday, July 18th. The stock was acquired at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ELV has been the subject of several analyst reports. Wells Fargo & Company cut their target price on shares of Elevance Health from $400.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Argus reiterated a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Robert W. Baird cut their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Morgan Stanley cut their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $411.06.

About Elevance Health

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.

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