Bank Julius Baer & Co. Ltd Zurich Purchases 8,333 Shares of Elevance Health, Inc. (NYSE:ELV)

Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 6.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 131,965 shares of the company’s stock after acquiring an additional 8,333 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Elevance Health were worth $51,856,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Lifeworks Advisors LLC grew its stake in Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares during the period. Dunhill Financial LLC lifted its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after buying an additional 26 shares during the period. Tobam boosted its holdings in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after buying an additional 27 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after buying an additional 27 shares during the period. Finally, Austin Private Wealth LLC increased its stake in shares of Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV opened at $409.59 on Friday. The company’s 50-day simple moving average is $390.64 and its two-hundred day simple moving average is $434.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market capitalization of $93.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is presently 26.71%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Argus reissued a “hold” rating and issued a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Wells Fargo & Company cut their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays lifted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

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.