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Deutsche Bank AG Sells 136,423 Shares of Elevance Health, Inc. (NYSE:ELV)

Elevance Health logo with Medical background

Key Points

  • Deutsche Bank AG has reduced its stake in Elevance Health by 14.5%, selling 136,423 shares and now holding approximately 807,209 shares valued at $351.1 million.
  • CEO Gail Boudreaux increased her position by purchasing 8,500 shares at an average price of $286.94, totaling nearly $2.44 million, reflecting a 5.96% increase in her ownership.
  • Elevance Health reported a quarterly EPS of $8.84, missing analysts' estimates, but had a revenue of $49.42 billion, surpassing expectations and marking a 14.3% increase year-over-year.
  • Want stock alerts on Elevance Health? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Deutsche Bank AG reduced its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 807,209 shares of the company's stock after selling 136,423 shares during the quarter. Deutsche Bank AG owned about 0.36% of Elevance Health worth $351,104,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC boosted its holdings in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter worth about $25,000. Riverview Trust Co boosted its stake in shares of Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. North Capital Inc. purchased a new position in shares of Elevance Health during the first quarter valued at about $36,000. Finally, Berbice Capital Management LLC bought a new position in Elevance Health in the first quarter worth about $43,000. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux purchased 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Up 2.7%

NYSE:ELV opened at $283.65 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $63.87 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.01 and a beta of 0.58. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $567.26. The firm has a 50-day simple moving average of $341.96 and a two-hundred day simple moving average of $386.08.

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

Elevance Health Dividend Announcement

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 paid a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.4%. Elevance Health's payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ELV. JPMorgan Chase & Co. cut their price objective on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Truist Financial lowered their target price on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Argus reiterated a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Finally, Robert W. Baird dropped their target price on shares of Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $418.19.

Read Our Latest Stock Report on Elevance Health

About Elevance Health

(Free Report)

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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Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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