Czech National Bank Raises Stake in Elevance Health, Inc. (NYSE:ELV)

Czech National Bank grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 5.9% in the first quarter, Holdings Channel reports. The firm owned 53,269 shares of the company’s stock after acquiring an additional 2,983 shares during the period. Czech National Bank’s holdings in Elevance Health were worth $23,170,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ELV. Tobam raised its stake in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after purchasing an additional 27 shares during the last quarter. Jacobi Capital Management LLC raised its stake in Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares during the last quarter. Austin Private Wealth LLC raised its stake in Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after purchasing an additional 29 shares during the last quarter. Quent Capital LLC raised its stake in Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares during the last quarter. Finally, Keystone Financial Services raised its stake in Elevance Health by 2.4% in the 4th quarter. Keystone Financial Services now owns 1,436 shares of the company’s stock valued at $530,000 after purchasing an additional 33 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Up 0.9%

Shares of NYSE:ELV opened at $384.02 on Friday. The business has a 50-day moving average price of $414.46 and a 200 day moving average price of $401.41. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $86.76 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s payout ratio is 26.69%.

Analyst Ratings Changes

Several research firms recently commented on ELV. Mizuho increased their price objective on Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Barclays raised their target price on Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Finally, Truist Financial raised their target price on Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $502.33.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by insiders.

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.