Generali Asset Management SPA SGR Has $5.80 Million Stock Holdings in Elevance Health, Inc. $ELV

Generali Asset Management SPA SGR lessened its holdings in Elevance Health, Inc. (NYSE:ELV) by 20.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,959 shares of the company’s stock after selling 4,518 shares during the period. Generali Asset Management SPA SGR’s holdings in Elevance Health were worth $5,803,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Elevance Health by 3.2% during the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock worth $8,890,419,000 after purchasing an additional 704,790 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after acquiring an additional 1,152,440 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Elevance Health by 9.7% in the second quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock worth $1,429,498,000 after purchasing an additional 324,399 shares in the last quarter. Norges Bank bought a new stake in Elevance Health during the 2nd quarter valued at $1,148,379,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Elevance Health by 13.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after purchasing an additional 324,040 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. TD Cowen boosted their price target on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Bank of America raised their target price on shares of Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Barclays dropped their price objective on Elevance Health from $395.00 to $385.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Elevance Health from $384.00 to $394.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Twelve research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $396.21.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $354.30 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $78.74 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.81 and a beta of 0.52. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The firm has a 50 day moving average of $334.36 and a 200 day moving average of $328.79.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.37 earnings per share. On average, research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio is currently 27.96%.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.