Bank Julius Baer & Co. Ltd Zurich Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Bank Julius Baer & Co. Ltd Zurich lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,476 shares of the company’s stock after selling 1,115 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Elevance Health were worth $40,307,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. abrdn plc increased its holdings in shares of Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after buying an additional 129,364 shares during the period. Cerity Partners LLC increased its holdings in shares of Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Elevance Health during the 4th quarter valued at about $218,000. Chicago Capital LLC increased its holdings in Elevance Health by 244.2% during the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after purchasing an additional 4,986 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in Elevance Health during the 4th quarter valued at about $2,235,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.4 %

ELV stock traded down $2.42 during midday trading on Friday, hitting $537.26. The company’s stock had a trading volume of 700,258 shares, compared to its average volume of 1,059,909. The company has a market cap of $124.87 billion, a PE ratio of 20.40, a P/E/G ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $511.40 and its 200-day moving average is $485.81.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $9.46 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. Elevance Health’s dividend payout ratio is presently 24.64%.

Analysts Set New Price Targets

ELV has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Mizuho upped their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Truist Financial reiterated a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health 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.