Banque Cantonale Vaudoise Invests $4.10 Million in Elevance Health, Inc. (NYSE:ELV)

Banque Cantonale Vaudoise acquired a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,421 shares of the company's stock, valued at approximately $4,098,000.

Several other hedge funds have also added to or reduced their stakes in ELV. Edmond DE Rothschild Holding S.A. raised its position in Elevance Health by 1.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 30,308 shares of the company's stock worth $11,181,000 after acquiring an additional 508 shares during the period. National Bank of Canada FI raised its position in Elevance Health by 848.6% in the fourth quarter. National Bank of Canada FI now owns 250,872 shares of the company's stock worth $92,550,000 after acquiring an additional 224,425 shares during the period. Geode Capital Management LLC raised its position in Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock worth $1,826,447,000 after acquiring an additional 115,971 shares during the period. Headlands Technologies LLC increased its stake in shares of Elevance Health by 20.8% in the fourth quarter. Headlands Technologies LLC now owns 5,809 shares of the company's stock worth $2,143,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 3.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,488,911 shares of the company's stock worth $918,159,000 after purchasing an additional 91,653 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 3.2%

Shares of ELV traded down $8.98 during mid-day trading on Friday, reaching $274.10. The company's stock had a trading volume of 3,380,911 shares, compared to its average volume of 1,939,330. The stock has a market cap of $61.72 billion, a PE ratio of 11.66, a P/E/G ratio of 1.08 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. Elevance Health, Inc. has a 52 week low of $273.84 and a 52 week high of $567.26. The company's fifty day moving average price is $351.82 and its two-hundred day moving average price is $389.87.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The firm had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. During the same quarter in the prior year, the company earned $10.12 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.5%. Elevance Health's dividend payout ratio is currently 29.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 target price on shares of Elevance Health in a research note on Wednesday, June 4th. Morgan Stanley reduced their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Argus reaffirmed a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Truist Financial reduced their price objective on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $418.19.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux acquired 8,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares of the company's stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

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.