Elevance Health, Inc. (NYSE:ELV) Shares Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,503 shares of the company's stock after purchasing an additional 1,335 shares during the quarter. Banque Pictet & Cie SA's holdings in Elevance Health were worth $11,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Elevance Health by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock valued at $7,926,028,000 after purchasing an additional 138,380 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Elevance Health by 4.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock valued at $3,917,004,000 after purchasing an additional 464,137 shares during the period. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock valued at $2,344,556,000 after purchasing an additional 1,893,947 shares during the period. Geode Capital Management LLC grew its holdings in shares of Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the period. Finally, Sanders Capital LLC grew its holdings in shares of Elevance Health by 1.7% in the fourth quarter. Sanders Capital LLC now owns 4,686,154 shares of the company's stock valued at $1,728,722,000 after purchasing an additional 76,896 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Elevance Health Stock Performance

Shares of ELV traded down $5.82 during mid-day trading on Friday, reaching $340.04. 1,698,140 shares of the company's stock were exchanged, compared to its average volume of 1,633,788. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $76.83 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The business's fifty day simple moving average is $380.88 and its 200-day simple moving average is $397.57. Elevance Health, Inc. has a 52-week low of $337.61 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.01%. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ELV shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $495.80.

About Elevance Health

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.