Munich Reinsurance Co Stock Corp in Munich Has $80.26 Million Position in Elevance Health, Inc. $ELV

Key Points

• Munich Reinsurance boosted its stake in Elevance Health by 44.1% in the first quarter, buying 83,894 additional shares and lifting its holding to 274,158 shares worth about $80.26 million.
• Elevance Health has seen broad institutional interest, with investors owning 89.24% of the stock and several firms recently increasing or initiating positions.
• Analysts remain constructive on ELV: multiple firms raised price targets, and the stock currently carries a Moderate Buy consensus with an average target price of $422.10.

Munich Reinsurance Co Stock Corp in Munich increased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 44.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 274,158 shares of the company's stock after buying an additional 83,894 shares during the quarter. Elevance Health accounts for about 2.0% of Munich Reinsurance Co Stock Corp in Munich's portfolio, making the stock its 13th biggest holding. Munich Reinsurance Co Stock Corp in Munich owned about 0.13% of Elevance Health worth $80,260,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ELV. Murphy Middleton Hinkle & Parker Inc. bought a new stake in Elevance Health during the 4th quarter worth about $5,941,000. Bright Rock Capital Management LLC bought a new position in shares of Elevance Health in the 4th quarter valued at about $7,362,000. Prana Capital Management LP increased its position in shares of Elevance Health by 798.9% in the third quarter. Prana Capital Management LP now owns 51,633 shares of the company's stock valued at $16,684,000 after acquiring an additional 45,889 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Elevance Health in the third quarter valued at about $10,047,000. Finally, Loews Corp raised its holdings in Elevance Health by 107.5% during the third quarter. Loews Corp now owns 110,000 shares of the company's stock worth $35,543,000 after acquiring an additional 57,000 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

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 shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ELV shares. Sanford C. Bernstein increased their price target on Elevance Health from $424.00 to $482.00 and gave the company an "outperform" rating in a research report on Thursday, July 2nd. Truist Financial upped their price objective on Elevance Health from $375.00 to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Citigroup raised Elevance Health to a "buy" rating in a report on Wednesday, April 29th. UBS Group raised their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Finally, Barclays boosted their target price on shares of Elevance Health from $408.00 to $480.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $422.10.

Elevance Health Price Performance

Shares of NYSE ELV opened at $415.99 on Thursday. The business's 50 day moving average price is $395.21 and its two-hundred day moving average price is $352.48. The company has a market cap of $90.34 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.38 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $427.19.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. During the same period last year, the firm posted $11.97 earnings per share. The business's revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, analysts predict that Elevance Health, Inc. will post 26.86 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were issued a dividend of $1.72 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health's dividend payout ratio (DPR) is currently 29.26%.

About Elevance Health

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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