Elevance Health, Inc. $ELV Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Elevance Health by 13.4%, selling 21,777 shares and now holds 140,686 shares, making it the 24th largest position in its portfolio.
• Elevance Health's earnings report showed a miss with $8.84 earnings per share against an expected $9.30, although revenue of $49.42 billion exceeded expectations of $48.26 billion.
• The company announced a quarterly dividend of $1.71 per share, signifying an annualized dividend of $6.84 with a yield of 2.1%, set to be paid on September 25th.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 140,686 shares of the company's stock after selling 21,777 shares during the quarter. Elevance Health makes up 1.5% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings, making the stock its 24th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned about 0.06% of Elevance Health worth $54,721,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $299,000. Focus Partners Wealth grew its position in shares of Elevance Health by 4.6% in the first quarter. Focus Partners Wealth now owns 22,446 shares of the company's stock valued at $9,764,000 after purchasing an additional 982 shares during the period. Dynamic Advisor Solutions LLC grew its position in shares of Elevance Health by 11.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company's stock valued at $3,125,000 after purchasing an additional 817 shares during the period. GAMMA Investing LLC grew its position in shares of Elevance Health by 88.1% in the first quarter. GAMMA Investing LLC now owns 3,390 shares of the company's stock valued at $1,475,000 after purchasing an additional 1,588 shares during the period. Finally, Ransom Advisory Ltd acquired a new stake in shares of Elevance Health in the first quarter valued at about $522,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Elevance Health stock opened at $326.43 on Thursday. The company's 50 day simple moving average is $302.00 and its 200-day simple moving average is $366.16. The company has a market capitalization of $73.51 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $534.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The business had revenue of $49.42 billion for the quarter, compared to analysts' expectations of $48.26 billion. During the same period in the previous year, the company earned $10.12 earnings per share. Elevance Health's quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the purchase, the director directly owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. JPMorgan Chase & Co. lowered their price target on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research report on Wednesday, June 4th. Truist Financial lowered their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Argus restated a "hold" rating on shares of Elevance Health in a research report on Monday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $411.06.

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.

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