MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 133,050 Shares of Elevance Health, Inc. (NYSE:ELV)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2,232.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 139,010 shares of the company’s stock after buying an additional 133,050 shares during the quarter. Elevance Health accounts for approximately 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 25th biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Elevance Health were worth $51,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Czech National Bank grew its position in shares of Elevance Health by 6.5% during the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after acquiring an additional 3,049 shares during the period. Iridian Asset Management LLC CT grew its holdings in Elevance Health by 10.7% during the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after purchasing an additional 3,786 shares during the period. International Assets Investment Management LLC grew its holdings in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after buying an additional 50,603 shares during the period. Finally, Diversified Trust Co lifted its position in shares of Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock valued at $8,328,000 after buying an additional 2,725 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 2.7 %

Shares of NYSE:ELV opened at $401.20 on Friday. The company has a market cap of $93.05 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.10 and a beta of 0.84. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $386.32 and a 200 day moving average price of $463.64.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data 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 return on equity of 19.56% and a net margin of 3.68%. As a group, equities research analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is presently 23.77%.

Analyst Ratings Changes

Several equities analysts have weighed in on ELV shares. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Cantor Fitzgerald dropped their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $520.00 to $440.00 in a research report on Wednesday. Finally, Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $524.87.

About Elevance Health

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.