Generate Investment Management Ltd Sells 6,035 Shares of Elevance Health, Inc. (NYSE:ELV)

Generate Investment Management Ltd lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,212 shares of the company’s stock after selling 6,035 shares during the quarter. Elevance Health accounts for about 1.8% of Generate Investment Management Ltd’s investment portfolio, making the stock its 19th largest position. Generate Investment Management Ltd’s holdings in Elevance Health were worth $27,670,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Net Worth Advisory Group purchased a new position in shares of Elevance Health during the 3rd quarter valued at $808,000. Stratos Investment Management LLC raised its holdings in Elevance Health by 2.8% during the third quarter. Stratos Investment Management LLC now owns 1,379 shares of the company’s stock valued at $717,000 after acquiring an additional 37 shares during the period. OmniStar Financial Group Inc. lifted its position in shares of Elevance Health by 8.3% in the third quarter. OmniStar Financial Group Inc. now owns 1,744 shares of the company’s stock valued at $912,000 after acquiring an additional 133 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Elevance Health by 7.3% in the third quarter. Aaron Wealth Advisors LLC now owns 826 shares of the company’s stock worth $430,000 after acquiring an additional 56 shares during the period. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Elevance Health during the third quarter worth about $237,000. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,170 shares of company stock worth $20,638,737 in the last quarter. 0.35% of the stock is owned by company insiders.

Elevance Health Trading Down 3.1 %

Shares of ELV opened at $430.76 on Friday. The company’s fifty day simple moving average is $526.74 and its 200-day simple moving average is $527.46. The company has a market cap of $100.12 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $8.99 earnings per share. As a group, analysts expect that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ELV shares. Bank of America reissued a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Morgan Stanley began coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price on the stock. Barclays lifted their price target on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada cut their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $572.27.

Elevance Health Profile

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.