Generali Investments Management Co LLC Invests $665,000 in Elevance Health, Inc. (NYSE:ELV)

Generali Investments Management Co LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,803 shares of the company’s stock, valued at approximately $665,000.

Other hedge funds also recently modified their holdings of the company. Raelipskie Partnership acquired a new position in shares of Elevance Health during the 3rd quarter worth $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the 4th quarter worth $26,000. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. OFI Invest Asset Management bought a new stake in shares of Elevance Health during the 4th quarter worth $29,000. Finally, Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter worth $34,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE:ELV opened at $436.32 on Wednesday. The company has a 50-day moving average of $397.60 and a 200-day moving average of $427.09. The company has a market capitalization of $99.20 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Analysts Set New Price Targets

Several research firms recently issued reports on ELV. Truist Financial decreased their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $519.81.

Insider Transactions at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction 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 trade represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by 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.