MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 18,121 Shares of Elevance Health, Inc. (NYSE:ELV)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 3,888.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,587 shares of the company’s stock after buying an additional 18,121 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Elevance Health were worth $8,765,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Elevance Health during the 4th quarter valued at approximately $1,253,211,000. Legal & General Group Plc purchased a new position in Elevance Health during the 4th quarter valued at approximately $944,528,000. Moneta Group Investment Advisors LLC purchased a new position in shares of Elevance Health in the 4th quarter worth approximately $664,077,000. Veritas Asset Management LLP purchased a new position in shares of Elevance Health in the 2nd quarter worth approximately $503,385,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Elevance Health by 825.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock worth $372,715,000 after purchasing an additional 676,769 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.3 %

NYSE ELV traded down $1.42 on Friday, reaching $518.54. 875,607 shares of the stock traded hands, compared to its average volume of 937,636. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average price of $502.12 and a 200-day moving average price of $476.06. The company has a market cap of $120.66 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $521.18.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.23 EPS. As a group, research analysts forecast that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.26%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, March 7th. Elevance Health’s payout ratio is presently 25.90%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays assumed coverage on Elevance Health in a report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price for the company. Royal Bank of Canada lifted their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Cantor Fitzgerald lifted their target price on Elevance Health from $547.00 to $580.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, StockNews.com cut Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $569.36.

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.