Munich Reinsurance Co Stock Corp in Munich Sells 123,825 Shares of Elevance Health, Inc. $ELV

Munich Reinsurance Co Stock Corp in Munich lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 45.2% in the 2nd quarter, Holdings Channel reports. The firm owned 150,333 shares of the company’s stock after selling 123,825 shares during the quarter. Elevance Health accounts for approximately 1.3% of Munich Reinsurance Co Stock Corp in Munich’s portfolio, making the stock its 28th largest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Elevance Health were worth $58,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELV. Sei Investments Co. boosted its position in shares of Elevance Health by 7.7% in the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after acquiring an additional 11,745 shares during the period. Glenview Trust co boosted its holdings in Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock valued at $630,000 after purchasing an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after purchasing an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Elevance Health by 5.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after purchasing an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of Elevance Health by 111.8% in the second quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Down 1.9%

Shares of NYSE:ELV opened at $407.05 on Friday. The firm has a market capitalization of $88.28 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The firm has a fifty day moving average of $396.72 and a 200 day moving average of $364.57.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm 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 company posted $8.84 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Elevance Health, Inc. will post 27.18 EPS for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial lifted their price objective on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald upped their target price on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Guggenheim raised their price target on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Barclays dropped their price target on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. Finally, Morgan Stanley upped their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.90.

About Elevance Health

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.