Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Elevance Health, Inc. $ELV

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Elevance Health, Inc. (NYSE:ELV) by 62.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 164,040 shares of the company’s stock after acquiring an additional 62,878 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elevance Health were worth $57,504,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its position in Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Activest Wealth Management increased its stake in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares during the period. Rossby Financial LCC raised its holdings in shares of Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after acquiring an additional 44 shares in the last quarter. Motco lifted its stake in Elevance Health by 334.8% in the third quarter. Motco now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Elevance Health by 431.8% in the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after acquiring an additional 95 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ELV. Weiss Ratings lowered shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 2nd. Leerink Partners increased their price target on shares of Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Jefferies Financial Group lowered their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday. UBS Group set a $400.00 target price on Elevance Health in a report on Thursday, January 29th. Finally, Guggenheim lowered their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $383.38.

Elevance Health Price Performance

Shares of ELV opened at $318.77 on Tuesday. The stock has a market cap of $70.02 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.78 and a beta of 0.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $432.93. The firm’s 50-day simple moving average is $308.83 and its two-hundred day simple moving average is $331.76.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter last year, the firm earned $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts anticipate that Elevance Health, Inc. will post 25.82 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 2.2%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, March 10th. Elevance Health’s dividend payout ratio is presently 27.39%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.