Raiffeisen Bank International AG Invests $1.21 Million in Elevance Health, Inc. (NYSE:ELV)

Raiffeisen Bank International AG acquired a new stake in Elevance Health, Inc. (NYSE:ELV - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,282 shares of the company's stock, valued at approximately $1,210,000.

A number of other hedge funds have also recently bought and sold shares of the company. Kathmere Capital Management LLC bought a new position in shares of Elevance Health in the 4th quarter worth $400,000. Cypress Wealth Services LLC lifted its stake in Elevance Health by 17.2% in the fourth quarter. Cypress Wealth Services LLC now owns 796 shares of the company's stock valued at $294,000 after buying an additional 117 shares during the period. Fermata Advisors LLC bought a new position in Elevance Health during the fourth quarter worth about $287,000. Cvfg LLC bought a new position in Elevance Health during the fourth quarter worth about $543,000. Finally, RDA Financial Network increased its stake in shares of Elevance Health by 0.5% in the 4th quarter. RDA Financial Network now owns 6,384 shares of the company's stock valued at $2,355,000 after acquiring an additional 32 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 2.1%

Shares of NYSE ELV traded up $8.68 during midday trading on Tuesday, reaching $412.49. The company's stock had a trading volume of 1,221,227 shares, compared to its average volume of 1,510,736. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The stock has a 50 day simple moving average of $422.29 and a 200-day simple moving average of $403.57. The stock has a market capitalization of $93.20 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.18 and a beta of 0.66. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 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 analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred 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 now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ELV shares. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Barclays raised their price objective on Elevance Health from $512.00 to $522.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $510.38.

Elevance Health 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.