Raiffeisen Bank International AG Sells 1,028 Shares of Elevance Health, Inc. (NYSE:ELV)

Key Points

• Raiffeisen Bank International AG reduced its stake in Elevance Health by 31.3%, selling 1,028 shares and retaining a total of 2,254 shares worth approximately $974,000.
• Elevance Health reported $8.84 earnings per share for the latest quarter, falling short of analysts' expectations while achieving a revenue of $49.42 billion.
• The company has announced a quarterly dividend of $1.71 per share, translating to an annualized dividend of $6.84 and a yield of 2.5%.

Raiffeisen Bank International AG decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 31.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,254 shares of the company's stock after selling 1,028 shares during the quarter. Raiffeisen Bank International AG's holdings in Elevance Health were worth $974,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ELV. Arete Wealth Advisors LLC boosted its position in shares of Elevance Health by 9.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 826 shares of the company's stock worth $305,000 after purchasing an additional 69 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Elevance Health by 183.0% in the 4th quarter. Bank of Nova Scotia now owns 134,160 shares of the company's stock worth $49,492,000 after purchasing an additional 86,758 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth $45,365,000. Greenland Capital Management LP acquired a new stake in shares of Elevance Health in the 4th quarter worth $259,000. Finally, APG Asset Management N.V. boosted its position in shares of Elevance Health by 157.9% in the 4th quarter. APG Asset Management N.V. now owns 205,796 shares of the company's stock worth $73,315,000 after purchasing an additional 125,995 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Up 0.1%

Shares of NYSE:ELV opened at $274.84 on Tuesday. The stock has a market capitalization of $61.89 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.01 and a beta of 0.58. Elevance Health, Inc. has a 1-year low of $273.84 and a 1-year high of $567.26. The company's fifty day moving average is $347.91 and its two-hundred day moving average is $388.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

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). The firm had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $10.12 EPS. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 10th. Elevance Health's payout ratio is presently 29.11%.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have commented on ELV. Leerink Partners reaffirmed a "market perform" rating and set a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Barclays lowered their price target on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Morgan Stanley lowered their price target on Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 target price on shares of Elevance Health in a research report on Wednesday, June 4th. Finally, UBS Group restated a "buy" rating and set a $484.00 target price (down from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $418.19.

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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