Elevance Health, Inc. (NYSE:ELV) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Elevance Health, Inc. (NYSE:ELV) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,588 shares of the company’s stock after acquiring an additional 4,559 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elevance Health were worth $39,402,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ELV. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Elevance Health by 81,726.5% in the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company’s stock worth $641,355,000 after acquiring an additional 1,472,712 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of Elevance Health in the fourth quarter worth $294,751,000. Price T Rowe Associates Inc. MD increased its position in shares of Elevance Health by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock worth $3,917,004,000 after acquiring an additional 464,137 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Elevance Health by 48.7% in the fourth quarter. First Trust Advisors LP now owns 1,267,396 shares of the company’s stock worth $467,542,000 after acquiring an additional 414,989 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $289.11 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 1-year low of $274.40 and a 1-year high of $567.26. The firm has a fifty day moving average of $360.79 and a two-hundred day moving average of $392.71. The firm has a market cap of $65.10 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.06 and a beta of 0.60.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the previous year, the firm earned $10.12 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.37%. Elevance Health’s payout ratio is 29.11%.

Insiders Place Their Bets

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction on Friday, July 18th. The stock was purchased at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ELV shares. Barclays dropped their price objective on shares of Elevance Health from $434.00 to $358.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Guggenheim decreased their target price on shares of Elevance Health from $447.00 to $360.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Argus restated a “hold” rating on shares of Elevance Health in a research note on Monday, July 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $418.19.

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.