Generate Investment Management Ltd Has $43.62 Million Stock Holdings in Elevance Health, Inc. $ELV

Generate Investment Management Ltd increased its position in shares of Elevance Health, Inc. (NYSE:ELV) by 37.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,000 shares of the company’s stock after purchasing an additional 36,948 shares during the period. Elevance Health accounts for 2.2% of Generate Investment Management Ltd’s portfolio, making the stock its 10th largest holding. Generate Investment Management Ltd’s holdings in Elevance Health were worth $43,621,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC raised its holdings in Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in shares of Elevance Health during the second quarter worth about $32,000. Glass Jacobson Investment Advisors llc grew its position in shares of Elevance Health by 400.0% during the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares in the last quarter. Trust Co. of Toledo NA OH bought a new stake in Elevance Health during the 2nd quarter valued at approximately $43,000. Finally, VSM Wealth Advisory LLC purchased a new position in Elevance Health in the 2nd quarter worth approximately $61,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

ELV has been the topic of several recent analyst reports. Guggenheim lifted their price objective on shares of Elevance Health from $360.00 to $398.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Bank of America lifted their price target on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Morgan Stanley dropped their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Truist Financial set a $400.00 price target on Elevance Health in a research note on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $396.21.

Elevance Health Stock Up 0.2%

Shares of NYSE:ELV opened at $348.97 on Wednesday. The company has a 50-day moving average price of $333.92 and a 200 day moving average price of $328.64. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a market cap of $77.55 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.61 and a beta of 0.52.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $8.37 EPS. As a group, equities research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is 27.96%.

Elevance Health 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.