Raiffeisen Bank International AG Decreases Stake in Elevance Health, Inc. $ELV

Raiffeisen Bank International AG cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,827 shares of the company’s stock after selling 427 shares during the quarter. Raiffeisen Bank International AG’s holdings in Elevance Health were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Verdence Capital Advisors LLC boosted its stake in Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares during the period. World Investment Advisors increased its position in shares of Elevance Health by 17.0% during the 2nd quarter. World Investment Advisors now owns 27,434 shares of the company’s stock valued at $10,671,000 after purchasing an additional 3,988 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in Elevance Health by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after acquiring an additional 817 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Elevance Health by 4.6% during the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after purchasing an additional 982 shares during the last quarter. Finally, Generate Investment Management Ltd increased its holdings in shares of Elevance Health by 164.4% in the second quarter. Generate Investment Management Ltd now owns 98,052 shares of the company’s stock worth $38,138,000 after buying an additional 60,963 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV opened at $324.64 on Wednesday. The company has a 50-day simple moving average of $330.37 and a two-hundred day simple moving average of $339.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $72.15 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a one year low of $273.71 and a one year high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. During the same quarter in the prior year, the company earned $8.37 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ELV shares. Robert W. Baird dropped their price target on shares of Elevance Health from $492.00 to $297.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Guggenheim boosted their price target on Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Thursday, October 23rd. Bank of America lifted their price objective on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, TD Cowen upped their target price on Elevance Health from $330.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Hold” and an average price target of $397.33.

Elevance Health Company 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.