Schroder Investment Management Group Buys 304,689 Shares of Elevance Health, Inc. $ELV

by · The Cerbat Gem

Schroder Investment Management Group increased its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 28.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,390,772 shares of the company’s stock after purchasing an additional 304,689 shares during the quarter. Schroder Investment Management Group’s holdings in Elevance Health were worth $540,955,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ELV. Vanguard Group Inc. grew its stake in Elevance Health by 3.2% in the second quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after acquiring an additional 704,790 shares during the period. Sanders Capital LLC grew its position in Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares during the period. Artisan Partners Limited Partnership increased its stake in Elevance Health by 9.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,675,179 shares of the company’s stock valued at $1,429,498,000 after purchasing an additional 324,399 shares in the last quarter. Norges Bank acquired a new position in Elevance Health during the second quarter worth $1,148,379,000. Finally, Orbis Allan Gray Ltd lifted its stake in shares of Elevance Health by 31.4% in the first quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock valued at $1,239,276,000 after buying an additional 680,228 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ELV shares. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial set a $400.00 price target on shares of Elevance Health in a report on Tuesday, October 14th. Morgan Stanley increased their target price on shares of Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 14th. TD Cowen upped their target price on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $398.44.

Read Our Latest Report on ELV

Elevance Health Stock Performance

Elevance Health stock opened at $332.15 on Friday. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $73.82 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.23 and a beta of 0.60. The firm’s fifty day moving average price is $333.18 and its 200-day moving average price is $335.91.

Elevance Health (NYSE:ELV – Get Free Report) last released its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. During the same quarter last year, the firm earned $8.37 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is presently 27.96%.

About Elevance Health

(Free Report)

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.

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