Generali Investments CEE investicni spolecnost a.s. Purchases Shares of 2,600 Elevance Health, Inc. (NYSE:ELV)

Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, Holdings Channel.com reports. The firm purchased 2,600 shares of the company’s stock, valued at approximately $959,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Elevance Health by 4.5% during the third quarter. Principal Financial Group Inc. now owns 272,649 shares of the company’s stock valued at $141,777,000 after purchasing an additional 11,646 shares during the period. Consolidated Planning Corp purchased a new stake in shares of Elevance Health during the third quarter valued at approximately $444,000. TFB Advisors LLC boosted its stake in shares of Elevance Health by 23.6% during the third quarter. TFB Advisors LLC now owns 540 shares of the company’s stock valued at $281,000 after purchasing an additional 103 shares during the period. Leavell Investment Management Inc. boosted its stake in shares of Elevance Health by 3.4% during the third quarter. Leavell Investment Management Inc. now owns 6,165 shares of the company’s stock valued at $3,206,000 after purchasing an additional 200 shares during the period. Finally, Equitable Trust Co. boosted its stake in shares of Elevance Health by 159.6% during the third quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock valued at $915,000 after purchasing an additional 1,082 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health 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 transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $409.59 on Friday. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a fifty day moving average price of $390.64 and a 200-day moving average price of $434.13. The company has a market capitalization of $93.12 billion, a PE ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. As a group, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared 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 is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Truist Financial dropped their price objective 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. Wells Fargo & Company dropped 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. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Finally, StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 1st. Three 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.