Pictet Asset Management Holding SA Trims Holdings in Elevance Health, Inc. $ELV

Pictet Asset Management Holding SA reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,241 shares of the company’s stock after selling 2,919 shares during the period. Pictet Asset Management Holding SA’s holdings in Elevance Health were worth $36,957,000 at the end of the most recent quarter.

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

Elevance Health Stock Down 0.3%

Shares of ELV opened at $386.94 on Wednesday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $426.98. The company’s fifty day moving average is $385.76 and its two-hundred day moving average is $349.88. The firm has a market cap of $84.03 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

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

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were paid a dividend of $1.72 per share. The ex-dividend date was Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health’s dividend payout ratio is currently 29.26%.

Insider Activity at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ELV. Citigroup raised Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group lowered their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Barclays upped their target price on Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group raised their price target on Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Evercore restated a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $416.11.

About Elevance Health

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.