Generali Asset Management SPA SGR Sells 2,790 Shares of Elevance Health, Inc. $ELV

Key Points

• Generali Asset Management SPA SGR reduced its stake in Elevance Health by 11% during the second quarter, selling 2,790 shares, and now holds 22,477 shares valued at approximately $8.7 million.
• Elevance Health's stock experienced a 0.4% decline to open at $350.04, with a 1-year range between $273.71 and $497.34.
• The company's earnings report showed EPS of $8.84, missing estimates by $0.46, while revenue increased by 14.3% year-over-year to $49.42 billion.

Generali Asset Management SPA SGR cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,477 shares of the company's stock after selling 2,790 shares during the period. Generali Asset Management SPA SGR's holdings in Elevance Health were worth $8,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC boosted its position in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Elevance Health in the first quarter valued at approximately $29,000. North Capital Inc. bought a new stake in shares of Elevance Health in the first quarter worth $36,000. Saudi Central Bank acquired a new position in Elevance Health during the first quarter worth $40,000. Finally, Berbice Capital Management LLC bought a new position in Elevance Health in the first quarter valued at $43,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 0.4%

ELV stock opened at $350.04 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $497.34. The business's 50 day simple moving average is $318.10 and its 200 day simple moving average is $357.56. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $78.82 billion, a PE ratio of 14.90, a PEG ratio of 1.28 and a beta of 0.59.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same period in the prior year, the business earned $10.12 EPS. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were paid a $1.71 dividend. The ex-dividend date was Wednesday, September 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.0%. Elevance Health's dividend payout ratio is 29.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday. Argus reiterated a "hold" rating on shares of Elevance Health in a research note on Monday, July 21st. The Goldman Sachs Group assumed coverage on Elevance Health in a report on Tuesday. They issued a "neutral" rating and a $343.00 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of Elevance Health from $330.00 to $412.00 and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $408.33.

Insider Activity

In other news, CEO Gail Boudreaux bought 8,500 shares of the stock in a transaction dated Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the purchase, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan D. Devore purchased 1,200 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

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.

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