Elevance Health, Inc. $ELV Shares Bought by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG increased its Elevance Health stake by 33.5% in the second quarter, holding 31,408 shares valued at approximately $12.1 million. Institutional investors collectively own 89.24% of the company.
• Elevance Health exceeded quarterly expectations, reporting $7.45 in adjusted EPS versus the $6.21 consensus and $49.83 billion in revenue versus $48.88 billion expected. Analysts maintain a “Moderate Buy” consensus with a $440.90 average price target.
• The company declared a quarterly dividend of $1.72 per share, equivalent to $6.88 annually and a 1.7% yield; the dividend is payable September 25 to shareholders of record as of September 10.

B. Metzler seel. Sohn & Co. AG lifted its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 33.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,408 shares of the company's stock after buying an additional 7,883 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Elevance Health were worth $12,146,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. purchased a new position in Elevance Health in the 2nd quarter worth approximately $7,344,424,000. Bank of New York Mellon Corp purchased a new stake in shares of Elevance Health during the second quarter valued at approximately $1,246,349,000. Norges Bank acquired a new position in shares of Elevance Health during the fourth quarter worth $1,058,165,000. Legal & General Group Plc purchased a new position in shares of Elevance Health in the second quarter valued at $688,469,000. Finally, Wellington Management Group LLP boosted its stake in shares of Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $406.17 on Thursday. 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 1 year low of $274.84 and a 1 year high of $436.24. The firm's 50-day simple moving average is $395.92 and its 200-day simple moving average is $363.79. The firm has a market cap of $88.09 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.10 and a beta of 0.69.

Elevance Health (NYSE:ELV - Get Free Report) 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 return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the firm earned $8.84 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm'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 directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $395.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. Wall Street Zen downgraded Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Truist Financial boosted their price target on Elevance Health from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Bank of America increased their price target on Elevance Health from $435.00 to $460.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, Mizuho raised their price objective on Elevance Health from $435.00 to $465.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $440.90.

Elevance Health 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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