Czech National Bank Buys 1,705 Shares of Elevance Health, Inc. $ELV

Czech National Bank boosted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,813 shares of the company’s stock after buying an additional 1,705 shares during the quarter. Czech National Bank’s holdings in Elevance Health were worth $23,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELV. WealthCollab LLC lifted its stake in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health in the fourth quarter worth about $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Elevance Health during the 4th quarter worth about $38,000. Finally, Main Street Group LTD bought a new stake in Elevance Health during the 1st quarter worth about $39,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Elevance Health Stock Up 0.7%

Elevance Health stock opened at $394.27 on Friday. The firm has a market capitalization of $85.51 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.25 and a beta of 0.68. The company’s 50 day simple moving average is $396.55 and its 200 day simple moving average is $357.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $436.24.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.84 earnings per share. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 27.07 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s dividend payout ratio is currently 30.58%.

Wall Street Analyst Weigh In

ELV has been the topic of several recent research reports. Mizuho raised their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Bank of America boosted their price target on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup raised shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Finally, Barclays lowered their target price on shares of Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.