J. Safra Sarasin Holding AG Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

J. Safra Sarasin Holding AG lessened its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,193 shares of the company's stock after selling 1,117 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Elevance Health were worth $5,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $30,000. Finally, Crews Bank & Trust acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insider Activity at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is owned by corporate insiders.

Elevance Health Stock Performance

Shares of NYSE ELV traded down $7.24 during mid-day trading on Friday, reaching $421.55. 1,534,488 shares of the company's stock were exchanged, compared to its average volume of 1,460,139. The firm has a market capitalization of $95.43 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a 50-day moving average price of $420.00 and a two-hundred day moving average price of $407.30.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.71%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several research reports. Barclays lifted their price target on shares of Elevance Health from $512.00 to $522.00 and gave the company an "overweight" rating in a research report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Finally, Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus price target of $509.44.

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.