denkapparat Operations GmbH Takes Position in Elevance Health, Inc. $ELV

denkapparat Operations GmbH purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 1,564 shares of the company’s stock, valued at approximately $608,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC increased its position in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC acquired a new stake in Elevance Health during the 1st quarter valued at approximately $29,000. BOK Financial Private Wealth Inc. acquired a new stake in Elevance Health during the 2nd quarter valued at approximately $32,000. Glass Jacobson Investment Advisors llc increased its holdings in Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in shares of Elevance Health in the 1st quarter valued at approximately $40,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $315.06 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $328.95 and its two-hundred day moving average price is $342.64. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The stock has a market capitalization of $70.02 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.23 and a beta of 0.60.

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

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is currently 27.96%.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

ELV has been the subject of a number of research analyst reports. Mizuho dropped their price target on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Sanford C. Bernstein dropped their target price on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, October 16th. Morgan Stanley increased their price target on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 14th. Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Thursday, October 23rd. Finally, Leerink Partners restated a “market perform” rating and set a $310.00 price objective (down previously from $510.00) on shares of Elevance Health in a research note on Friday, July 18th. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.