Generali Investments Management Co LLC Increases Holdings in Elevance Health, Inc. (NYSE:ELV)

Generali Investments Management Co LLC grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,491 shares of the company's stock after purchasing an additional 688 shares during the quarter. Generali Investments Management Co LLC's holdings in Elevance Health were worth $1,083,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ELV. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health in the 4th quarter worth about $29,000. WealthTrak Capital Management LLC purchased a new stake in Elevance Health in the 4th quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Elevance Health in the 4th quarter worth about $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho lifted their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Guggenheim reissued a "buy" rating and issued a $518.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Truist Financial lifted their price objective on Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a report on Wednesday. Finally, Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has an average rating of "Moderate Buy" and a consensus target price of $499.53.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, 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. 0.29% of the stock is owned by insiders.

Elevance Health Stock Up 1.2%

Shares of NYSE ELV opened at $384.61 on Friday. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $86.90 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.18 and a beta of 0.66. The business has a 50-day moving average of $410.29 and a 200-day moving average of $400.80.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

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.

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