Lombard Odier Asset Management Europe Ltd Invests $2.51 Million in Elevance Health, Inc. (NYSE:ELV)

Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,630 shares of the company’s stock, valued at approximately $2,509,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Tower Research Capital LLC TRC boosted its stake in shares of Elevance Health by 114.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after buying an additional 16,737 shares during the last quarter. Brave Warrior Advisors LLC boosted its stake in Elevance Health by 7.9% during the 4th quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after acquiring an additional 129,055 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in Elevance Health by 14.6% during the 1st quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after acquiring an additional 1,800 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Elevance Health by 276.0% in the 4th quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after purchasing an additional 60,436 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Elevance Health by 119.7% in the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird assumed coverage on Elevance Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $649.00 price objective for the company. Bank of America reissued a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. TD Cowen decreased their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Friday. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Buy” and an average target price of $604.29.

Elevance Health Stock Performance

ELV opened at $533.73 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $536.25 and its 200-day moving average is $529.70. The stock has a market cap of $124.05 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.82. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter in the previous year, the business earned $9.04 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Company insiders own 0.35% of the company’s stock.

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.