Commerzbank Aktiengesellschaft FI Acquires 477 Shares of Elevance Health, Inc. (NYSE:ELV)

Commerzbank Aktiengesellschaft FI lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 33.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,914 shares of the company’s stock after purchasing an additional 477 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Elevance Health were worth $706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raelipskie Partnership bought a new position in shares of Elevance Health during the third quarter worth $26,000. Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Elevance Health during the third quarter worth $44,000. Crews Bank & Trust bought a new position in shares of Elevance Health during the fourth quarter worth $34,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Elevance Health during the third quarter worth $52,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays boosted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Stock Up 0.6 %

Shares of ELV stock opened at $397.68 on Wednesday. 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 fifty day moving average price is $388.77 and its two-hundred day moving average price is $436.31. The firm has a market capitalization of $90.41 billion, a P/E ratio of 15.53, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.72%. Elevance Health’s payout ratio is currently 26.71%.

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.