Generali Asset Management SPA SGR Purchases New Stake in Elevance Health, Inc. (NYSE:ELV)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its position in shares of Elevance Health by 47.6% in the fourth 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 during the last quarter. Stifel Financial Corp boosted its holdings in shares of Elevance Health by 309.7% during the third quarter. Stifel Financial Corp now owns 713,027 shares of the company's stock worth $370,794,000 after acquiring an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company's stock valued at $1,246,574,000 after buying an additional 334,552 shares during the period. Wellington Management Group LLP boosted its stake in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company's stock valued at $2,320,024,000 after buying an additional 286,905 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Elevance Health in the third quarter valued at approximately $129,221,000. 89.24% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ELV shares. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Argus raised Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $519.81.

Insider Activity

In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.

Elevance Health Stock Down 1.6 %

Shares of NYSE ELV traded down $7.01 during trading hours on Friday, hitting $427.27. 3,034,683 shares of the stock were exchanged, compared to its average volume of 1,317,936. 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 market cap of $97.14 billion, a PE ratio of 16.68, a PEG ratio of 1.18 and a beta of 0.86. The firm has a fifty day moving average price of $400.52 and a 200-day moving average price of $426.27. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS 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, sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date is Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's dividend payout ratio (DPR) is 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.