4,556 Elevance Health, Inc. $ELV Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,145 shares of the company’s stock after selling 4,556 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Elevance Health worth $46,715,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Dedication LLC increased its position in Elevance Health by 2.3% in the 3rd quarter. Asset Dedication LLC now owns 2,393 shares of the company’s stock valued at $930,000 after acquiring an additional 53 shares in the last quarter. United Advisor Group LLC acquired a new position in Elevance Health during the 3rd quarter worth $264,000. Providence First Trust Co boosted its position in Elevance Health by 27.1% in the 3rd quarter. Providence First Trust Co now owns 1,849 shares of the company’s stock valued at $719,000 after buying an additional 394 shares during the last quarter. Alta Advisers Ltd boosted its position in Elevance Health by 90.3% in the 3rd quarter. Alta Advisers Ltd now owns 1,581 shares of the company’s stock valued at $615,000 after buying an additional 750 shares during the last quarter. Finally, ACR Alpine Capital Research LLC increased its stake in shares of Elevance Health by 24.5% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 919,031 shares of the company’s stock valued at $357,337,000 after buying an additional 181,109 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Robert W. Baird raised their price target on Elevance Health from $393.00 to $406.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Royal Bank Of Canada increased their price objective on shares of Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a report on Thursday, October 22nd. Truist Financial raised their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. TD Cowen raised their price objective on shares of Elevance Health from $465.00 to $495.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Finally, Sanford C. Bernstein set a $488.00 target price on shares of Elevance Health in a report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $456.48.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the completion of the sale, the chief financial officer directly owned 19,919 shares in the company, valued at $8,766,949.47. This represents a 34.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ratnakar Lavu sold 1,300 shares of Elevance Health stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $440.00, for a total value of $572,000.00. Following the transaction, the executive vice president owned 14,849 shares in the company, valued at $6,533,560. This trade represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.34% of the stock is currently owned by insiders.

Elevance Health Price Performance

Elevance Health stock opened at $429.48 on Wednesday. The firm has a market capitalization of $92.79 billion, a P/E ratio of 18.31, a PEG ratio of 2.00 and a beta of 0.63. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $450.69. The business has a 50-day moving average of $414.10 and a 200-day moving average of $374.11. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. During the same period last year, the company posted $6.03 EPS. Elevance Health’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health, Inc. will post 29.15 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $1.72 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $6.88 annualized dividend and a dividend yield of 1.6%. Elevance Health’s payout ratio is 29.34%.

About Elevance Health

Elevance Health, Inc. is a U.S. health benefits and services company. Formerly known as Anthem, Inc., it adopted the Elevance Health name in 2022 while retaining the Anthem brand for many of its health plans. The company offers medical, pharmacy, dental, vision and behavioral health coverage, including plans for individuals and employers as well as programs serving Medicare and Medicaid members. Its services also include care management, pharmacy benefit services and other health-related capabilities through its Carelon business.