Czech National Bank Grows Holdings in Elevance Health, Inc. (NYSE:ELV)

Czech National Bank increased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,269 shares of the company's stock after acquiring an additional 2,983 shares during the quarter. Czech National Bank's holdings in Elevance Health were worth $23,170,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JB Capital LLC lifted its position in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company's stock valued at $3,462,000 after purchasing an additional 8,038 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Elevance Health by 82.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock valued at $276,073,000 after purchasing an additional 326,543 shares during the last quarter. VELA Investment Management LLC lifted its position in Elevance Health by 101.6% during the fourth quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock valued at $765,000 after purchasing an additional 1,045 shares during the last quarter. Cambiar Investors LLC bought a new stake in Elevance Health during the fourth quarter valued at approximately $45,614,000. Finally, E. Ohman J or Asset Management AB lifted its position in Elevance Health by 11.1% during the fourth quarter. E. Ohman J or Asset Management AB now owns 10,440 shares of the company's stock valued at $3,851,000 after purchasing an additional 1,040 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELV. Truist Financial lifted their target price on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays dropped their target price on shares of Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research report on Monday. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research note on Wednesday. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $499.53.

Elevance Health Trading Up 0.6%

NYSE:ELV traded up $2.10 during midday trading on Thursday, reaching $382.17. 654,771 shares of the stock traded hands, compared to its average volume of 1,721,002. The company has a fifty day moving average of $411.30 and a 200 day moving average of $400.91. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $86.35 billion, a P/E ratio of 14.92, a PEG ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly 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 during the quarter, compared to analyst estimates of $46.26 billion. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company's stock.

About Elevance Health

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.