DekaBank Deutsche Girozentrale Buys 12,706 Shares of Elevance Health, Inc. (NYSE:ELV)

DekaBank Deutsche Girozentrale raised its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 355,969 shares of the company's stock after purchasing an additional 12,706 shares during the period. DekaBank Deutsche Girozentrale owned 0.16% of Elevance Health worth $152,430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. CIBC Private Wealth Group LLC lifted its stake in shares of Elevance Health by 82.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after acquiring an additional 326,543 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Elevance Health in the 1st quarter worth approximately $299,000. GAMMA Investing LLC lifted its stake 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 worth $1,475,000 after acquiring an additional 1,588 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Elevance Health by 185.7% in the 1st quarter. Ritholtz Wealth Management now owns 3,083 shares of the company's stock worth $1,341,000 after acquiring an additional 2,004 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Elevance Health by 36.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,566 shares of the company's stock worth $11,991,000 after acquiring an additional 7,410 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $5.82 during trading hours on Friday, hitting $340.04. 1,698,140 shares of the stock were exchanged, compared to its average volume of 1,631,093. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The company's 50 day moving average is $380.88 and its 200 day moving average is $397.40. The firm has a market capitalization of $76.83 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a one year low of $337.69 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. On average, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio is currently 26.69%.

Insider Activity

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the 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 completion of the sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ELV shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the stock a "buy" rating in a report on Monday, June 9th. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $495.80.

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.