Pictet Asset Management Holding SA Lowers Stock Position in Elevance Health, Inc. $ELV

Pictet Asset Management Holding SA trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,241 shares of the company’s stock after selling 2,919 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Elevance Health worth $36,957,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ELV. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health during the 4th quarter worth $31,000. J.Safra Asset Management Corp acquired a new position in shares of Elevance Health during the 4th quarter worth $32,000. ORG Partners LLC increased its holdings in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $41,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $38,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

Shares of ELV opened at $386.94 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a market cap of $84.03 billion, a P/E ratio of 16.46, a PEG ratio of 2.20 and a beta of 0.67. The company has a 50-day moving average of $385.76 and a two-hundred day moving average of $349.88. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the prior year, the business earned $11.97 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, research analysts predict that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were paid a $1.72 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. Elevance Health’s dividend payout ratio is presently 29.26%.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Jefferies Financial Group decreased their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. UBS Group raised their price objective on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $416.11.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

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.