Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 67.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,029 shares of the company's stock after selling 179,898 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Elevance Health were worth $31,736,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Roberts Glore & Co. Inc. IL raised its holdings in shares of Elevance Health by 229.2% during the fourth quarter. Roberts Glore & Co. Inc. IL now owns 2,212 shares of the company's stock valued at $816,000 after buying an additional 1,540 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. United Community Bank raised its holdings in shares of Elevance Health by 9.6% during the fourth quarter. United Community Bank now owns 1,760 shares of the company's stock valued at $649,000 after buying an additional 154 shares during the last quarter. Naviter Wealth LLC bought a new stake in Elevance Health during the fourth quarter worth approximately $1,300,000. Finally, Lifeworks Advisors LLC raised its holdings in Elevance Health by 15.4% during the fourth quarter. Lifeworks Advisors LLC now owns 1,197 shares of the company's stock worth $442,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

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Elevance Health Stock Performance

ELV traded down $6.68 on Wednesday, hitting $415.37. The company's stock had a trading volume of 915,031 shares, compared to its average volume of 1,634,694. The company's 50 day simple moving average is $392.54 and its 200-day simple moving average is $431.56. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market cap of $94.43 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.65%. Elevance Health's dividend payout ratio is currently 26.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cantor Fitzgerald reissued an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Saturday, March 1st. Stephens cut shares of Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average price target of $517.03.

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.