Swiss National Bank Purchases 900 Shares of Elevance Health, Inc. (NYSE:ELV)

Swiss National Bank increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 689,800 shares of the company’s stock after acquiring an additional 900 shares during the period. Swiss National Bank’s holdings in Elevance Health were worth $358,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Trust grew its position in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares during the last quarter. Private Ocean LLC grew its position in Elevance Health by 6.7% during the 2nd quarter. Private Ocean LLC now owns 348 shares of the company’s stock worth $189,000 after acquiring an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. grew its position in shares of Elevance Health by 1.9% in the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock valued at $666,000 after buying an additional 23 shares during the last quarter. Cypress Wealth Services LLC grew its position in shares of Elevance Health by 3.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after buying an additional 23 shares during the last quarter. Finally, CVA Family Office LLC grew its position in shares of Elevance Health by 4.2% in the 2nd quarter. CVA Family Office LLC now owns 602 shares of the company’s stock valued at $326,000 after buying an additional 24 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $520.00 price target (down previously from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. TD Cowen reduced their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Cantor Fitzgerald reduced their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $539.20.

Insider Transactions at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 1.6 %

ELV stock opened at $400.69 on Friday. The stock’s 50 day simple moving average is $475.29 and its 200 day simple moving average is $513.52. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $92.93 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.85.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period last year, the company posted $8.99 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.