B. Metzler seel. Sohn & Co. Holding AG Invests $20.26 Million in Elevance Health, Inc. (NYSE:ELV)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,958 shares of the company's stock, valued at approximately $20,258,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company's stock worth $2,054,641,000 after acquiring an additional 190,118 shares in the last quarter. Capital International Investors grew its stake in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company's stock worth $1,814,118,000 after acquiring an additional 123,802 shares in the last quarter. Legal & General Group Plc grew its stake in Elevance Health by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company's stock worth $1,217,607,000 after acquiring an additional 64,376 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company's stock valued at $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company's stock valued at $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ELV. Stephens reiterated an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada lowered their target price on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a research note on Friday, October 18th. Barclays decreased their price target on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a report on Friday, October 18th. Finally, TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $539.20.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of NYSE ELV traded down $6.50 during trading on Tuesday, hitting $394.20. The company had a trading volume of 1,998,921 shares, compared to its average volume of 1,169,954. The firm has a market capitalization of $91.42 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85. Elevance Health, Inc. has a fifty-two week low of $391.83 and a fifty-two week high of $567.26. The stock has a fifty day simple moving average of $472.43 and a two-hundred day simple moving average of $512.56. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.99 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health's payout ratio is presently 23.77%.

Elevance Health Company Profile

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.