Elevance Health, Inc. (NYSE:ELV) Stake Boosted by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 17.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,212 shares of the company’s stock after acquiring an additional 1,052 shares during the period. Vontobel Holding Ltd.’s holdings in Elevance Health were worth $3,137,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Accredited Wealth Management LLC bought a new stake in Elevance Health in the fourth quarter worth $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health during the 4th quarter worth $26,000. Riverview Trust Co lifted its position in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in Elevance Health during the 4th quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health during the 4th quarter worth $30,000. 89.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

NYSE:ELV opened at $348.92 on Friday. Elevance Health, Inc. has a 12-month low of $347.21 and a 12-month high of $567.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $78.83 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.89 and a beta of 0.60. The firm has a 50-day moving average price of $389.10 and a 200 day moving average price of $398.31.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.96%. Elevance Health’s dividend payout ratio is 26.69%.

Analyst Ratings Changes

A number of research analysts have weighed in on ELV shares. Argus set a $465.00 target price on shares of Elevance Health in a research report on Friday, April 25th. Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Finally, Barclays cut their price objective on shares of Elevance Health from $522.00 to $480.00 and set an “overweight” rating for the company in a research report on Monday, June 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $498.87.

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.