Elevance Health, Inc. $ELV Holdings Decreased by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management cut its Elevance Health stake by 52.8% in the third quarter, selling 22,833 shares and retaining 20,393 shares valued at approximately $7.9 million. Institutional investors collectively own 89.24% of the company.
• Elevance Health reported quarterly EPS of $6.99, beating estimates of $4.71, while revenue reached $50.44 billion versus expectations of $49.28 billion. Analysts expect full-year EPS of $29.15.
• The company declared a quarterly dividend of $1.72 per share, or $6.88 annually, representing a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $456.48.

Generali Asset Management SPA SGR lowered its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 52.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,393 shares of the company's stock after selling 22,833 shares during the quarter. Generali Asset Management SPA SGR's holdings in Elevance Health were worth $7,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ELV. BlackRock Inc. bought a new position in Elevance Health in the 2nd quarter valued at approximately $7,344,424,000. State Street Corp grew its holdings in Elevance Health by 1.3% during the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company's stock worth $4,032,283,000 after acquiring an additional 137,914 shares during the last quarter. Wellington Management Group LLP grew its holdings in Elevance Health by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company's stock worth $3,563,142,000 after acquiring an additional 984,976 shares during the last quarter. First Eagle Investment Management LLC increased its position in Elevance Health by 1.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company's stock valued at $1,619,701,000 after acquiring an additional 55,905 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Elevance Health in the 2nd quarter valued at approximately $1,246,349,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

NYSE:ELV opened at $413.42 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47. Elevance Health, Inc. has a fifty-two week low of $274.84 and a fifty-two week high of $450.69. The company has a 50 day simple moving average of $409.71 and a two-hundred day simple moving average of $371.85. The company has a market capitalization of $89.32 billion, a PE ratio of 17.63, a P/E/G ratio of 2.10 and a beta of 0.70.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.03 EPS. Research analysts anticipate that Elevance Health, Inc. will post 29.15 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 4th. Elevance Health's dividend payout ratio (DPR) is currently 29.34%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELV shares. Robert W. Baird raised their price target on shares of Elevance Health from $393.00 to $406.00 and gave the company a "neutral" rating in a research note on Thursday, October 22nd. Cantor Fitzgerald boosted their price objective on shares of Elevance Health from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada raised their target price on Elevance Health from $424.00 to $455.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 22nd. Morgan Stanley lifted their target price on Elevance Health from $404.00 to $449.00 and gave the stock an "equal weight" rating in a report on Thursday, October 22nd. Finally, Wells Fargo & Company upped their price target on Elevance Health from $473.00 to $492.00 and gave the company an "overweight" rating in a research report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $456.48.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 10,584 shares of the business's stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares in the company, valued at $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by corporate insiders.

About Elevance Health

Elevance Health, Inc NYSE: ELV is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.

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