Bank Julius Baer & Co. Ltd Zurich Has $40.31 Million Stock Position in Elevance Health, Inc. (NYSE:ELV)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,476 shares of the company’s stock after selling 1,115 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Elevance Health were worth $40,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. abrdn plc lifted its position in shares of Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,199 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $218,000. Chicago Capital LLC lifted its position in shares of Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after purchasing an additional 4,986 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $2,235,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ELV shares. Mizuho raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays raised their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

ELV traded down $2.42 during trading on Friday, reaching $537.26. 700,258 shares of the company’s stock were exchanged, compared to its average volume of 1,059,909. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $511.40 and a 200 day moving average price of $485.81. The company has a market capitalization of $124.87 billion, a P/E ratio of 20.40, a PEG ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the company earned $9.46 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio is 24.64%.

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.