Vontobel Holding Ltd. Grows Stock Position in Elevance Health, Inc. (NYSE:ELV)

Vontobel Holding Ltd. boosted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,212 shares of the company's stock after buying an additional 1,052 shares during the quarter. Vontobel Holding Ltd.'s holdings in Elevance Health were worth $3,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Elevance Health by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after acquiring an additional 464,137 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Elevance Health by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. Finally, Sanders Capital LLC boosted its position in shares of Elevance Health by 1.7% during the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after buying an additional 76,896 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Trading Down 0.4%

Elevance Health stock traded down $1.33 during mid-day trading on Friday, hitting $348.92. The company's stock had a trading volume of 2,006,213 shares, compared to its average volume of 1,610,408. The company has a 50 day moving average of $387.65 and a 200-day moving average of $398.41. The stock has a market cap of $78.83 billion, a PE ratio of 13.61, a P/E/G ratio of 0.88 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. Elevance Health, Inc. has a one year low of $347.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The business had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

Insider Buying and Selling at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELV shares. Barclays dropped their price objective on Elevance Health from $522.00 to $480.00 and set an "overweight" rating on the stock in a research report on Monday, June 2nd. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Mizuho lifted their target price on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Finally, Truist Financial set a $500.00 price objective on Elevance Health and gave the stock a "buy" rating in a research note on Monday, June 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health 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.