Commerzbank Aktiengesellschaft FI Acquires 8,946 Shares of Elevance Health, Inc. $ELV

Key Points

• Commerzbank Aktiengesellschaft FI increased its Elevance Health stake by 164.7% in the first quarter, buying 8,946 additional shares and bringing its total to 14,377 shares worth about $4.21 million.
• Elevance Health beat earnings expectations in its latest quarterly report, posting $7.45 EPS versus the $6.21 consensus and revenue of $49.83 billion, while analysts now expect full-year EPS of 27.08.
• The company also announced a quarterly dividend of $1.72 per share, payable September 25, which works out to an annualized yield of about 1.8%.

Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 164.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,377 shares of the company's stock after buying an additional 8,946 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Elevance Health were worth $4,209,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Elevance Health by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,645,787 shares of the company's stock valued at $481,683,000 after purchasing an additional 128,995 shares during the last quarter. Ironwood Investment Counsel LLC increased its position in shares of Elevance Health by 20.7% during the 1st quarter. Ironwood Investment Counsel LLC now owns 11,791 shares of the company's stock worth $3,452,000 after purchasing an additional 2,023 shares during the last quarter. SEB Asset Management AB bought a new stake in shares of Elevance Health during the 1st quarter worth approximately $13,929,000. Swiss National Bank boosted its holdings in shares of Elevance Health by 5.7% in the 1st quarter. Swiss National Bank now owns 652,220 shares of the company's stock valued at $190,937,000 after buying an additional 35,160 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its holdings in shares of Elevance Health by 2.2% in the 1st quarter. Heartland Advisors Inc. now owns 6,831 shares of the company's stock valued at $2,000,000 after buying an additional 145 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Up 2.3%

Shares of Elevance Health stock opened at $381.82 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The business has a fifty day simple moving average of $399.56 and a two-hundred day simple moving average of $355.63. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $436.24. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 2.10 and a beta of 0.67.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $8.84 earnings per share. Research analysts forecast that Elevance Health, Inc. will post 27.08 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health's dividend payout ratio is 30.58%.

Insider Transactions at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

ELV has been the topic of a number of recent analyst reports. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a report on Tuesday, July 7th. Bank of America increased their price target on shares of Elevance Health from $435.00 to $460.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Royal Bank Of Canada decreased their price objective on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a research report on Thursday. UBS Group boosted their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a "hold" rating to a "buy" rating and upped their target price for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $440.90.

Elevance Health Company 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.

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