Generali Asset Management SPA SGR Acquires Shares of 30,028 Elevance Health, Inc. (NYSE:ELV)

Generali Asset Management SPA SGR acquired a new stake in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 30,028 shares of the company’s stock, valued at approximately $11,077,000.

Several other hedge funds have also recently made changes to their positions in ELV. Raelipskie Partnership purchased a new position in shares of Elevance Health during the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new stake in Elevance Health in the fourth quarter worth $26,000. OFI Invest Asset Management purchased a new stake in Elevance Health in the fourth quarter worth $29,000. Crews Bank & Trust purchased a new stake in Elevance Health in the fourth quarter worth $34,000. Finally, Dunhill Financial LLC grew its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elevance Health

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

Analyst Ratings Changes

Several research firms have commented on ELV. Barclays boosted their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company dropped their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Monday. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health Stock Performance

NYSE ELV opened at $431.29 on Tuesday. The stock has a market capitalization of $98.06 billion, a PE ratio of 16.84, a P/E/G ratio of 1.18 and a beta of 0.86. The business has a 50 day simple moving average of $396.48 and a two-hundred day simple moving average of $427.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26.

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 return on equity of 18.28% and a net margin of 3.38%. On average, research analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.59%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.