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

Banque Pictet & Cie SA increased its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 44.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,168 shares of the company's stock after purchasing an additional 8,081 shares during the period. Banque Pictet & Cie SA's holdings in Elevance Health were worth $9,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Elevance Health by 2.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 4,157 shares of the company's stock valued at $1,534,000 after acquiring an additional 93 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Elevance Health by 1.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 93,852 shares of the company's stock valued at $34,826,000 after purchasing an additional 1,292 shares in the last quarter. Castellan Group boosted its stake in Elevance Health by 10.7% during the 4th quarter. Castellan Group now owns 5,720 shares of the company's stock worth $2,110,000 after purchasing an additional 551 shares during the last quarter. Howard Bailey Securities LLC grew its holdings in shares of Elevance Health by 55.8% during the fourth quarter. Howard Bailey Securities LLC now owns 1,220 shares of the company's stock worth $450,000 after buying an additional 437 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its position in shares of Elevance Health by 8.6% in the fourth quarter. Stanley Laman Group Ltd. now owns 8,208 shares of the company's stock valued at $3,028,000 after buying an additional 648 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Morgan Stanley lowered their target price on Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research note on Monday, October 21st. Finally, Argus restated a "hold" rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $517.03.

Elevance Health Trading Down 1.7 %

ELV stock traded down $6.80 during mid-day trading on Tuesday, hitting $382.46. 1,588,916 shares of the company were exchanged, compared to its average volume of 1,643,446. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market capitalization of $88.70 billion, a P/E ratio of 14.93, a PEG ratio of 1.17 and a beta of 0.83. The business has a fifty day simple moving average of $384.96 and a 200-day simple moving average of $447.12. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities research analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.79%. Elevance Health's dividend payout ratio (DPR) is presently 25.46%.

Elevance Health Company 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.