Commerzbank Aktiengesellschaft FI Buys 1,075 Shares of Elevance Health, Inc. (NYSE:ELV)

Commerzbank Aktiengesellschaft FI increased its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 56.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,989 shares of the company's stock after acquiring an additional 1,075 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Elevance Health were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. Proficio Capital Partners LLC lifted its stake in Elevance Health by 33.5% during the fourth quarter. Proficio Capital Partners LLC now owns 626 shares of the company's stock valued at $231,000 after purchasing an additional 157 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Elevance Health by 21.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 676 shares of the company's stock valued at $249,000 after purchasing an additional 119 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Elevance Health by 48.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,509 shares of the company's stock valued at $557,000 after purchasing an additional 490 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Elevance Health by 54.1% during the fourth quarter. Advisors Asset Management Inc. now owns 12,912 shares of the company's stock valued at $4,763,000 after purchasing an additional 4,535 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in Elevance Health by 1.0% during the fourth quarter. Horizon Investments LLC now owns 3,852 shares of the company's stock valued at $1,421,000 after purchasing an additional 40 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Price Performance

Shares of Elevance Health stock traded down $25.58 during trading on Friday, hitting $276.87. 8,379,827 shares of the company's stock traded hands, compared to its average volume of 1,672,342. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.43. The firm's fifty day moving average price is $371.52 and its 200 day moving average price is $395.81. Elevance Health, Inc. has a twelve month low of $276.41 and a twelve month high of $567.26. The company has a market cap of $62.55 billion, a PE ratio of 11.78, a PEG ratio of 0.81 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.83% and a return on equity of 17.59%. The firm had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same period in the prior year, the business earned $10.12 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Insider Transactions at Elevance Health

In other 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 value of $1,949,074.16. Following the sale, the chief financial officer owned 18,977 shares of the company's stock, valued at $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 can be accessed through the SEC website. Also, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ELV. Leerink Partners reissued a "market perform" rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a research note on Friday. Guggenheim decreased their price objective on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research note on Friday. Morgan Stanley decreased their price objective 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. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $435.93.

Elevance Health Company 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.