Allianz SE Invests $5.34 Million in Elevance Health, Inc. (NYSE:ELV)

Allianz SE bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 14,477 shares of the company’s stock, valued at approximately $5,339,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in shares of Elevance Health by 3.8% during the third quarter. Fisher Asset Management LLC now owns 838 shares of the company’s stock worth $436,000 after purchasing an additional 31 shares during the period. Public Sector Pension Investment Board raised its holdings in Elevance Health by 12.3% during the third quarter. Public Sector Pension Investment Board now owns 10,032 shares of the company’s stock worth $5,217,000 after buying an additional 1,100 shares during the last quarter. Financial Counselors Inc. lifted its stake in shares of Elevance Health by 2.7% in the third quarter. Financial Counselors Inc. now owns 1,953 shares of the company’s stock valued at $1,016,000 after buying an additional 51 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Elevance Health by 0.7% during the third quarter. Captrust Financial Advisors now owns 38,974 shares of the company’s stock valued at $20,267,000 after buying an additional 286 shares during the last quarter. Finally, PFM Health Sciences LP increased its position in shares of Elevance Health by 2.2% during the third quarter. PFM Health Sciences LP now owns 56,441 shares of the company’s stock worth $29,349,000 after acquiring an additional 1,191 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $431.84 on Friday. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The firm has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business’s fifty day moving average is $404.45 and its 200 day moving average is $421.28.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Insider Buying and Selling at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ELV shares. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Finally, Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $519.81.

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.