Munich Reinsurance Co Stock Corp in Munich Lowers Position in Elevance Health, Inc. $ELV

Munich Reinsurance Co Stock Corp in Munich lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 45.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,333 shares of the company’s stock after selling 123,825 shares during the quarter. Elevance Health makes up about 1.3% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 28th largest position. Munich Reinsurance Co Stock Corp in Munich owned approximately 0.07% of Elevance Health worth $58,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Kilter Group LLC purchased a new stake in Elevance Health in the 2nd quarter valued at $28,000. Kemnay Advisory Services Inc. purchased a new position in Elevance Health during the 4th quarter worth $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health in the 4th quarter worth $32,000. WealthCollab LLC grew its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ELV shares. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a research report on Thursday, July 16th. Mizuho lifted their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Barclays reduced their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Finally, Cantor Fitzgerald lifted their price target on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Stock Down 1.9%

Elevance Health stock opened at $407.05 on Friday. The firm has a 50 day moving average price of $396.72 and a 200-day moving average price of $364.57. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health, Inc. has a twelve month low of $274.84 and a twelve month high of $436.24. The company has a market capitalization of $88.28 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.16 and a beta of 0.69.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the previous year, the firm posted $8.84 EPS. Elevance Health’s revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Elevance Health, Inc. will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

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

Elevance Health Company Profile

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.