Vontobel Holding Ltd. Sells 732 Shares of Elevance Health, Inc. $ELV

Key Points

• Vontobel Holding Ltd. reduced its stake in Elevance Health, Inc. by 10.1%, selling 732 shares, maintaining a total of 6,480 shares valued at approximately $2.52 million.
• Despite the stake reduction by Vontobel, several hedge funds have increased their holdings in Elevance Health, with one firm, Private Wealth Management Group LLC, boosting its position by 152% during the first quarter.
• Analysts have mixed ratings on Elevance Health, with twelve giving a "Buy" rating while others have downgraded the stock to "Hold," reflecting divergent outlooks on its future performance.

Vontobel Holding Ltd. cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,480 shares of the company's stock after selling 732 shares during the period. Vontobel Holding Ltd.'s holdings in Elevance Health were worth $2,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Wealth Management Group LLC lifted its position in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after purchasing an additional 38 shares during the period. WPG Advisers LLC bought a new position in Elevance Health during the first quarter worth $29,000. North Capital Inc. bought a new position in Elevance Health during the first quarter worth $36,000. Saudi Central Bank acquired a new stake in Elevance Health during the 1st quarter worth about $40,000. Finally, Berbice Capital Management LLC acquired a new stake in Elevance Health during the 1st quarter worth about $43,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen lowered Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Guggenheim lifted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Elevance Health from $472.00 to $384.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price target on shares of Elevance Health from $330.00 to $412.00 and gave the stock an "overweight" rating in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $412.00.

Insider Activity

In other news, Director Susan D. Devore acquired 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $312.15 per share, with a total value of $374,580.00. Following the transaction, the director owned 3,502 shares of the company's stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gail Boudreaux bought 8,500 shares of the business's stock in a transaction dated 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 purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.

Elevance Health Stock Performance

Shares of ELV opened at $353.29 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. The stock has a 50 day moving average price of $315.10 and a two-hundred day moving average price of $358.68. The firm has a market capitalization of $79.55 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.29 and a beta of 0.59. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $510.24.

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

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th were issued a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. Elevance Health's dividend payout ratio is currently 29.11%.

Elevance Health Company 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.

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