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

Pictet Asset Management Holding SA trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,145 shares of the company’s stock after selling 4,556 shares during the period. Pictet Asset Management Holding SA’s holdings in Elevance Health were worth $46,715,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Elevance Health during the 2nd quarter worth about $2,086,000. Stoneridge Investment Partners LLC bought a new stake in Elevance Health during the second quarter worth about $970,000. State Street Corp raised its holdings in Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after acquiring an additional 137,914 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Elevance Health by 27.1% during the third quarter. Farther Finance Advisors LLC now owns 11,826 shares of the company’s stock valued at $4,598,000 after purchasing an additional 2,518 shares during the last quarter. Finally, State of Wyoming acquired a new position in Elevance Health during the second quarter valued at approximately $1,765,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 2.7%

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

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

Elevance Health Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on ELV. Mizuho set a $490.00 price target on Elevance Health in a research note on Friday, October 23rd. Truist Financial upped their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Robert W. Baird increased their price objective on Elevance Health from $393.00 to $406.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Barclays raised their target price on shares of Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Finally, TD Cowen boosted their target price on shares of Elevance Health from $465.00 to $495.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $456.48.

Insider Activity at Elevance Health

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

Elevance Health Profile

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.