Schroder Investment Management Group Has $540.96 Million Stake in Elevance Health, Inc. $ELV

Schroder Investment Management Group grew its stake in Elevance Health, Inc. (NYSE:ELV) by 28.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,390,772 shares of the company’s stock after acquiring an additional 304,689 shares during the period. Schroder Investment Management Group owned 0.62% of Elevance Health worth $540,955,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its holdings in shares of Elevance Health by 40.9% in the 2nd quarter. Mackenzie Financial Corp now owns 73,037 shares of the company’s stock valued at $28,408,000 after buying an additional 21,193 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Elevance Health by 21.4% in the second quarter. Loomis Sayles & Co. L P now owns 26,324 shares of the company’s stock valued at $10,239,000 after purchasing an additional 4,636 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Elevance Health by 24.1% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 62,527 shares of the company’s stock worth $24,321,000 after buying an additional 12,154 shares during the last quarter. Norges Bank bought a new position in Elevance Health in the 2nd quarter valued at about $1,148,379,000. Finally, Quadrature Capital Ltd acquired a new stake in Elevance Health during the second quarter worth approximately $30,045,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 1.9%

Shares of NYSE:ELV opened at $332.15 on Friday. The firm has a market cap of $73.82 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.23 and a beta of 0.60. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The business has a fifty day simple moving average of $333.18 and a 200 day simple moving average of $335.91. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

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 company had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.37 earnings per share. 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 will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 27.96%.

Analyst Ratings Changes

Several research analysts have commented on ELV shares. Weiss Ratings restated a “sell (d+)” rating on shares of Elevance Health in a research report on Monday. Wall Street Zen raised shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Cowen reissued a “buy” rating on shares of Elevance Health in a research note on Wednesday. Truist Financial set a $400.00 target price on shares of Elevance Health in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group started coverage on Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and a consensus target price of $398.44.

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.