Deutsche Bank AG Takes $364.71 Million Position in Elevance Health, Inc. $ELV

Deutsche Bank AG purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 943,054 shares of the company’s stock, valued at approximately $364,707,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ELV. Sei Investments Co. raised its stake in Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock worth $63,666,000 after acquiring an additional 11,745 shares in the last quarter. Glenview Trust co boosted its stake in shares of Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after purchasing an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Elevance Health by 5.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock valued at $16,478,000 after purchasing an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Elevance Health by 111.8% during the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $390.69 on Tuesday. The firm’s 50-day simple moving average is $395.48 and its two-hundred day simple moving average is $358.49. The company has a market cap of $84.73 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.84 EPS. Research analysts predict that Elevance Health, Inc. will post 27.07 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s payout ratio is presently 30.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank Of Canada dropped their target price on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Leerink Partners upped their price target on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Mizuho lifted their price objective on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Robert W. Baird boosted their target price on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.