Lombard Odier Asset Management Switzerland SA Invests $1.24 Million in Elevance Health, Inc. $ELV

Lombard Odier Asset Management Switzerland SA bought a new position in Elevance Health, Inc. (NYSE:ELV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,219 shares of the company’s stock, valued at approximately $1,235,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bright Rock Capital Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $7,362,000. M&T Bank Corp grew its position in Elevance Health by 160.4% during the 4th quarter. M&T Bank Corp now owns 50,486 shares of the company’s stock worth $17,698,000 after purchasing an additional 31,101 shares in the last quarter. HF Advisory Group LLC raised its stake in Elevance Health by 1,797.0% during the 4th quarter. HF Advisory Group LLC now owns 152,705 shares of the company’s stock valued at $53,531,000 after purchasing an additional 144,655 shares during the period. Solidarity Wealth LLC acquired a new stake in Elevance Health during the 4th quarter valued at $1,433,000. Finally, Manning & Napier Advisors LLC lifted its holdings in shares of Elevance Health by 1,423.1% in the fourth quarter. Manning & Napier Advisors LLC now owns 368,426 shares of the company’s stock valued at $129,152,000 after purchasing an additional 344,237 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV stock opened at $378.17 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $82.01 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.17 and a beta of 0.67. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $436.24. The firm has a 50 day moving average of $398.39 and a two-hundred day moving average of $356.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.84 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 27.04 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ELV. Jefferies Financial Group decreased their target price 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. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and upped their price target for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wells Fargo & Company lowered their target price on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Insiders Place Their Bets

In other Elevance Health 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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

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.