J. Safra Sarasin Holding AG Has $13.06 Million Holdings in Elevance Health, Inc. $ELV

Key Points

• J. Safra Sarasin Holding AG has increased its stake in Elevance Health by 69.9% during the 2nd quarter, bringing its holdings to approximately $13.06 million.
• Despite a revenue increase of 14.3% year-over-year, Elevance Health missed earnings expectations, reporting $8.84 earnings per share compared to the consensus estimate of $9.30.
• Elevance Health recently declared a quarterly dividend of $1.71 per share, representing an annualized dividend yield of 2.0%.

J. Safra Sarasin Holding AG increased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 69.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,564 shares of the company's stock after purchasing an additional 13,804 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Elevance Health were worth $13,055,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Lecap Asset Management Ltd. grew its position in shares of Elevance Health by 171.6% in the 2nd quarter. Lecap Asset Management Ltd. now owns 5,831 shares of the company's stock valued at $2,268,000 after buying an additional 3,684 shares during the last quarter. Pure Financial Advisors LLC boosted its holdings in Elevance Health by 39.3% in the second quarter. Pure Financial Advisors LLC now owns 2,749 shares of the company's stock valued at $1,069,000 after acquiring an additional 776 shares during the last quarter. Consolidated Planning Corp acquired a new stake in Elevance Health during the 2nd quarter valued at approximately $235,000. Bartlett & CO. Wealth Management LLC raised its holdings in Elevance Health by 1.1% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 4,559 shares of the company's stock worth $1,773,000 after purchasing an additional 48 shares during the last quarter. Finally, Impact Capital Partners LLC lifted its position in shares of Elevance Health by 8.9% in the 2nd quarter. Impact Capital Partners LLC now owns 1,048 shares of the company's stock worth $408,000 after purchasing an additional 86 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Truist Financial decreased their price target on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. UBS Group cut their target price on Elevance Health from $435.00 to $425.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. Robert W. Baird lowered their target price on Elevance Health from $492.00 to $297.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. cut their price target on Elevance Health from $472.00 to $384.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus price target of $411.06.

Elevance Health Stock Up 2.3%

Shares of NYSE:ELV opened at $340.18 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $510.24. The business's 50 day simple moving average is $306.74 and its two-hundred day simple moving average is $362.26. The firm has a market cap of $76.60 billion, a P/E ratio of 14.48, a PEG ratio of 1.22 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $48.26 billion. During the same period in the previous year, the company earned $10.12 earnings per share. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is 29.11%.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux bought 8,500 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was bought at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan D. Devore bought 1,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

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.

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