Bank Julius Baer & Co. Ltd Zurich Has $51.37 Million Stock Position in Elevance Health, Inc. $ELV

Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 0.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 132,081 shares of the company’s stock after purchasing an additional 908 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.06% of Elevance Health worth $51,374,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crestwood Advisors Group LLC boosted its position in Elevance Health by 57.2% during the first quarter. Crestwood Advisors Group LLC now owns 1,052 shares of the company’s stock valued at $458,000 after acquiring an additional 383 shares during the last quarter. Choreo LLC lifted its stake in shares of Elevance Health by 6.5% in the 1st quarter. Choreo LLC now owns 4,253 shares of the company’s stock valued at $1,850,000 after purchasing an additional 259 shares during the period. SYM FINANCIAL Corp acquired a new position in shares of Elevance Health in the 1st quarter valued at about $214,000. AE Wealth Management LLC boosted its position in shares of Elevance Health by 6.7% during the 1st quarter. AE Wealth Management LLC now owns 3,595 shares of the company’s stock valued at $1,564,000 after purchasing an additional 225 shares in the last quarter. Finally, Unison Advisors LLC acquired a new stake in Elevance Health during the first quarter worth approximately $3,175,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.8%

ELV opened at $313.70 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a market capitalization of $69.72 billion, a PE ratio of 12.83, a P/E/G ratio of 1.23 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company’s 50-day moving average is $330.56 and its 200 day moving average is $339.29.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $8.37 EPS. As a group, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target on the stock. Morgan Stanley boosted their target price on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elevance Health in a research note on Monday. Finally, TD Cowen increased their price objective on shares of Elevance Health from $330.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Twelve investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Hold” and an average target price of $397.33.

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.