Czech National Bank Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Czech National Bank raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 6.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 47,237 shares of the company’s stock after purchasing an additional 2,947 shares during the period. Czech National Bank’s holdings in Elevance Health were worth $24,563,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Lowe Wealth Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter worth approximately $50,000. Abacus Planning Group Inc. grew its stake in Elevance Health by 6.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 842 shares of the company’s stock worth $438,000 after buying an additional 48 shares during the last quarter. Centaurus Financial Inc. grew its stake in Elevance Health by 66.9% during the 2nd quarter. Centaurus Financial Inc. now owns 918 shares of the company’s stock valued at $498,000 after purchasing an additional 368 shares during the last quarter. Anchor Investment Management LLC grew its stake in Elevance Health by 4.3% during the 2nd quarter. Anchor Investment Management LLC now owns 4,963 shares of the company’s stock valued at $2,689,000 after purchasing an additional 204 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Elevance Health by 41.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 50,000 shares of the company’s stock valued at $27,093,000 after purchasing an additional 14,700 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

ELV stock opened at $498.16 on Friday. Elevance Health, Inc. has a 12-month low of $432.99 and a 12-month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $536.58 and its 200 day simple moving average is $529.83. The firm has a market cap of $115.78 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.17 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $9.04 earnings per share. As a group, equities research analysts predict that Elevance Health, Inc. will post 37.25 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value 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. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ELV shares. Morgan Stanley initiated coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. TD Cowen reduced their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Bank of America reiterated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research report on Thursday, September 5th. One research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $604.29.

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.