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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2,232.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,010 shares of the company’s stock after acquiring an additional 133,050 shares during the period. Elevance Health comprises 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 25th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.06% of Elevance Health worth $51,267,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ELV. Public Sector Pension Investment Board increased its position in Elevance Health by 71.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,932 shares of the company’s stock valued at $4,840,000 after purchasing an additional 3,711 shares during the period. Marshall Wace LLP bought a new stake in shares of Elevance Health during the 2nd quarter valued at about $35,763,000. Fred Alger Management LLC purchased a new position in shares of Elevance Health during the second quarter valued at about $6,833,000. APG Asset Management US Inc. raised its stake in Elevance Health by 1.6% in the second quarter. APG Asset Management US Inc. now owns 41,408 shares of the company’s stock worth $22,135,000 after buying an additional 658 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Elevance Health by 52.1% in the second quarter. APG Asset Management N.V. now owns 308,706 shares of the company’s stock worth $156,077,000 after buying an additional 105,795 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Price Performance

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

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. On average, sell-side analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is presently 23.77%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ELV. Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Royal Bank of Canada dropped their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday. Finally, Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.