Raiffeisen Bank International AG Takes Position in Elevance Health, Inc. (NYSE:ELV)

Raiffeisen Bank International AG purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,282 shares of the company’s stock, valued at approximately $1,210,000.

A number of other large investors have also recently bought and sold shares of ELV. Norges Bank bought a new stake in Elevance Health during the fourth quarter worth approximately $1,135,014,000. Wellington Management Group LLP raised its position in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. First Eagle Investment Management LLC increased its position in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock worth $1,189,828,000 after buying an additional 1,039,612 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after acquiring an additional 895,658 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Elevance Health in the 4th quarter valued at approximately $294,751,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of research reports. Truist Financial raised their price target on shares of Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a report on Friday, April 11th. Barclays lifted 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. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Mizuho lifted 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. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $510.38.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by company insiders.

Elevance Health Trading Up 3.4%

Elevance Health stock opened at $403.20 on Friday. The stock has a market cap of $91.10 billion, a P/E ratio of 15.74, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The firm’s fifty day moving average price is $422.47 and its 200-day moving average price is $403.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

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

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s payout ratio is currently 26.69%.

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.