Vontobel Holding Ltd. Has $7.85 Million Position in Elevance Health, Inc. (NYSE:ELV)

Vontobel Holding Ltd. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,099 shares of the company’s stock after selling 558 shares during the period. Vontobel Holding Ltd.’s holdings in Elevance Health were worth $7,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Ameriprise Financial Inc. increased its stake in shares of Elevance Health by 5.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after acquiring an additional 190,118 shares in the last quarter. Capital International Investors grew its stake in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after purchasing an additional 123,802 shares during the period. Legal & General Group Plc increased its holdings in Elevance Health by 2.9% during the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after buying an additional 64,376 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after acquiring an additional 523,910 shares during the period. Finally, First Eagle Investment Management LLC increased its position in Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after buying an additional 275,708 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

ELV has been the topic of a number of recent research reports. Stephens reaffirmed an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research report on Thursday, September 5th. Barclays increased their target price on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Truist Financial boosted their price target on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Finally, Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $605.07.

Elevance Health Stock Performance

NYSE:ELV opened at $446.09 on Friday. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a market cap of $103.68 billion, a P/E ratio of 16.86, a PEG ratio of 1.08 and a beta of 0.82. The business’s 50-day moving average price is $528.77 and its two-hundred day moving average price is $528.05.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.74 by ($1.37). The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.99 earnings per share. As a group, equities analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current fiscal year.

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.