Zurcher Kantonalbank Zurich Cantonalbank Sells 179,898 Shares of Elevance Health, Inc. (NYSE:ELV)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Elevance Health, Inc. (NYSE:ELV) by 67.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,029 shares of the company’s stock after selling 179,898 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elevance Health were worth $31,736,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new stake in Elevance Health in the 3rd quarter valued at $469,000. Assetmark Inc. increased its holdings in Elevance Health by 1.8% in the 3rd quarter. Assetmark Inc. now owns 12,135 shares of the company’s stock valued at $6,310,000 after acquiring an additional 220 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Elevance Health by 12.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 555 shares of the company’s stock valued at $289,000 after acquiring an additional 62 shares during the last quarter. Sigma Planning Corp increased its holdings in Elevance Health by 4.8% in the 3rd quarter. Sigma Planning Corp now owns 2,385 shares of the company’s stock valued at $1,240,000 after acquiring an additional 109 shares during the last quarter. Finally, Colonial River Investments LLC increased its holdings in Elevance Health by 21.1% in the 3rd quarter. Colonial River Investments LLC now owns 563 shares of the company’s stock valued at $293,000 after acquiring an additional 98 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’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 value of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ELV. Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

ELV stock opened at $409.46 on Tuesday. The stock has a market cap of $93.09 billion, a PE ratio of 15.99, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a 50-day moving average price of $391.45 and a 200 day moving average price of $432.42.

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

Elevance Health Increases Dividend

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

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.