Elevance Health, Inc. (NYSE:ELV) Shares Bought by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Elevance Health, Inc. by 22.0%, acquiring an additional 3,567 shares to hold a total of 19,760 shares valued at $8,595,000.
• Elevance Health's stock recently experienced a decline of 3.2% and reported earnings of $8.84 per share, missing analysts' consensus estimate of $9.30.
• The company announced a quarterly dividend of $1.71 per share, with an annualized yield of 2.5%, to be paid on September 25th to investors of record.

J. Safra Sarasin Holding AG grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 22.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,760 shares of the company's stock after purchasing an additional 3,567 shares during the period. J. Safra Sarasin Holding AG's holdings in Elevance Health were worth $8,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at $25,000. Private Wealth Management Group LLC lifted its holdings in shares of Elevance Health by 152.0% during the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Riverview Trust Co increased its stake in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock worth $31,000 after purchasing an additional 67 shares in the last quarter. North Capital Inc. purchased a new stake in Elevance Health during the first quarter valued at about $36,000. Finally, Orion Capital Management LLC purchased a new position in shares of Elevance Health in the fourth quarter worth approximately $39,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of several research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Leerink Partners restated a "market perform" rating and set a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Argus reissued a "hold" rating on shares of Elevance Health in a report on Monday, July 21st. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Robert W. Baird cut their price objective on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $418.19.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux purchased 8,500 shares of the business's stock in a transaction on Friday, July 18th. The stock was acquired at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the acquisition, the chief executive officer directly owned 151,020 shares of the company's stock, valued at $43,333,678.80. This represents a 5.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

Elevance Health Price Performance

NYSE:ELV traded down $0.02 during mid-day trading on Wednesday, hitting $276.39. 2,474,874 shares of the stock traded hands, compared to its average volume of 1,948,973. The business's 50-day moving average price is $345.92 and its 200 day moving average price is $387.54. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $567.26. The company has a market cap of $62.24 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.01 and a beta of 0.58. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

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

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.5%. Elevance Health's dividend payout ratio is presently 29.11%.

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.