Generali Investments Management Co LLC Acquires Shares of 1,803 Elevance Health, Inc. (NYSE:ELV)

Generali Investments Management Co LLC acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,803 shares of the company’s stock, valued at approximately $665,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELV. First Eagle Investment Management LLC increased its position in Elevance Health by 47.6% in the 4th quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after acquiring an additional 1,039,612 shares in the last quarter. Stifel Financial Corp grew its position in shares of Elevance Health by 309.7% during the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock worth $370,794,000 after buying an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Elevance Health by 16.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the period. Wellington Management Group LLP grew its position in shares of Elevance Health by 6.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after buying an additional 286,905 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $129,221,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ELV. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Monday. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three investment 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.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $519.81.

Elevance Health Stock Up 1.3 %

Elevance Health stock opened at $436.32 on Wednesday. The stock has a market capitalization of $99.20 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $397.60 and a 200-day moving average of $427.09.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate 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 anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is 26.71%.

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.