Elevance Health, Inc. (NYSE:ELV) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,193 shares of the company's stock after selling 1,117 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Elevance Health were worth $5,974,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ELV. Virtu Financial LLC purchased a new stake in Elevance Health in the 3rd quarter worth $2,828,000. Te Ahumairangi Investment Management Ltd grew its position in shares of Elevance Health by 39.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock valued at $5,433,000 after purchasing an additional 2,983 shares during the period. Tudor Financial Inc. purchased a new stake in shares of Elevance Health during the third quarter worth about $235,000. Anchor Investment Management LLC raised its position in shares of Elevance Health by 22.9% during the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock worth $3,171,000 after purchasing an additional 1,135 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new position in Elevance Health in the 3rd quarter valued at about $8,855,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Trading Down 1.7 %

ELV stock traded down $7.24 during midday trading on Friday, hitting $421.55. 1,534,488 shares of the company's stock were exchanged, compared to its average volume of 1,455,547. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The business has a 50-day simple moving average of $419.22 and a two-hundred day simple moving average of $408.94. The stock has a market capitalization of $95.43 billion, a PE ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. On average, sell-side analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is 26.71%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. Truist Financial boosted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. 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. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a report on Monday, March 17th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $509.44.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock worth $3,521,612 over the last ninety days. Corporate insiders own 0.29% of the company's stock.

Elevance Health Company 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.