Deutsche Bank AG Increases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Deutsche Bank AG grew its position in Elevance Health, Inc. (NYSE:ELV) by 5.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 943,632 shares of the company’s stock after purchasing an additional 50,220 shares during the quarter. Deutsche Bank AG’s holdings in Elevance Health were worth $348,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ELV. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the 4th quarter worth $26,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the 4th quarter worth $29,000. Lee Danner & Bass Inc. purchased a new position in Elevance Health in the fourth quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $29,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, CFO Mark Kaye sold 4,588 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by corporate insiders.

Elevance Health Stock Down 1.1 %

Shares of NYSE ELV opened at $413.01 on Friday. 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, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s 50-day moving average is $424.00 and its 200-day moving average is $404.69. The firm has a market capitalization of $93.31 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.66%. Elevance Health’s dividend payout ratio is currently 26.69%.

Analysts Set New Price Targets

ELV has been the subject of several analyst reports. Mizuho boosted their price objective on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Guggenheim restated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $510.38.

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.