Swiss National Bank Sells 34,240 Shares of Elevance Health, Inc. $ELV

Key Points

• Swiss National Bank reduced its Elevance Health stake by 5.3% in the fourth quarter, selling 34,240 shares and ending with 617,060 shares valued at about $216.3 million.
• Several other institutional investors also adjusted holdings, and institutions now own 89.24% of Elevance Health’s stock, highlighting continued heavy institutional interest.
• Analysts remain generally positive: Elevance Health has a Moderate Buy consensus rating with an average price target of $416.11, while the company also reported better-than-expected quarterly earnings and announced a $1.72 quarterly dividend.

Swiss National Bank lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 617,060 shares of the company's stock after selling 34,240 shares during the period. Swiss National Bank owned 0.28% of Elevance Health worth $216,310,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ELV. Sei Investments Co. grew its holdings in Elevance Health by 7.7% during the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company's stock worth $63,666,000 after acquiring an additional 11,745 shares during the last quarter. Glenview Trust co grew its holdings in Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company's stock worth $630,000 after acquiring an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Elevance Health by 6.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock worth $25,650,000 after acquiring an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Elevance Health by 5.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock worth $16,478,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Elevance Health by 111.8% during the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock worth $17,080,000 after acquiring an additional 23,180 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ELV shares. Morgan Stanley increased their price objective on shares of Elevance Health from $352.00 to $404.00 and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Barclays increased their price objective on shares of Elevance Health from $408.00 to $480.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Citigroup raised shares of Elevance Health to a "buy" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Mizuho boosted their target price on Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and an average price target of $416.11.

Elevance Health Trading Down 1.2%

ELV stock opened at $399.64 on Friday. The company has a market cap of $86.79 billion, a P/E ratio of 17.00, a PEG ratio of 2.29 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.98. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $364.53 and a 200-day moving average of $344.44.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the previous year, the company posted $11.97 earnings per share. The firm's quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts expect that Elevance Health, Inc. will post 26.93 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's dividend payout ratio (DPR) is presently 29.26%.

Elevance Health Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.