31,408 Shares in Elevance Health, Inc. $ELV Acquired by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 31,408 Elevance Health shares worth approximately $12.15 million in the second quarter. Institutional investors collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $7.45, exceeding the $6.21 consensus estimate, while revenue reached $49.83 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $440.90.
• The company declared a quarterly dividend of $1.72 per share, equivalent to $6.88 annually and a 1.7% yield.

B. Metzler seel. Sohn & Co. AG purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,408 shares of the company's stock, valued at approximately $12,146,000.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp lifted its stake in shares of Elevance Health by 160.4% in the 4th quarter. M&T Bank Corp now owns 50,486 shares of the company's stock valued at $17,698,000 after purchasing an additional 31,101 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Elevance Health during the 2nd quarter valued at approximately $970,000. Solidarity Wealth LLC bought a new position in shares of Elevance Health during the 4th quarter valued at approximately $1,433,000. Manning & Napier Advisors LLC raised its holdings in Elevance Health by 1,423.1% during the 4th quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company's stock valued at $129,152,000 after buying an additional 344,237 shares during the period. Finally, State of Wyoming bought a new stake in Elevance Health in the second quarter worth $1,765,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $397.15 on Friday. The firm's 50 day simple moving average is $394.82 and its 200-day simple moving average is $359.63. 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 one year low of $274.84 and a one year high of $436.24. The firm has a market cap of $86.13 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $8.84 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's dividend payout ratio (DPR) is 30.58%.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Elevance Health in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and upped their price target for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. Citigroup raised shares of Elevance Health to a "buy" rating in a research report on Wednesday, April 29th. Finally, Truist Financial boosted their target price on Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $440.90.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. 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 completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company's stock.

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.

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