Elevance Health, Inc. $ELV Shares Purchased by denkapparat Operations GmbH

denkapparat Operations GmbH raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 78.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,108 shares of the company’s stock after acquiring an additional 1,362 shares during the quarter. denkapparat Operations GmbH’s holdings in Elevance Health were worth $1,202,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ELV. BlackRock Inc. acquired a new stake in Elevance Health during the second quarter valued at approximately $7,344,424,000. Wellington Management Group LLP raised its holdings in shares of Elevance Health by 12.0% during the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after purchasing an additional 984,976 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after buying an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after buying an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after buying an additional 24,271 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Up 2.3%

ELV opened at $415.05 on Friday. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $90.01 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.11 and a beta of 0.69. The stock’s 50 day moving average price is $396.48 and its 200 day moving average price is $364.27.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the previous year, the firm posted $8.84 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is presently 30.58%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Leerink Partners increased their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Robert W. Baird lifted their target price on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $440.90.

Insider Transactions at Elevance Health

In related news, Director Robert Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.