Schroder Investment Management Group Has $431.15 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Schroder Investment Management Group reduced its position in shares of Elevance Health, Inc. (NYSE:ELV) by 30.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,168,731 shares of the company’s stock after selling 515,503 shares during the quarter. Schroder Investment Management Group’s holdings in Elevance Health were worth $431,145,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raelipskie Partnership bought a new stake in Elevance Health in the 3rd quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the fourth quarter worth $26,000. OFI Invest Asset Management acquired a new position in Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter valued at $30,000. 89.24% of the stock is currently owned by institutional investors.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.0 %

ELV stock opened at $431.84 on Friday. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business has a 50-day simple moving average of $404.45 and a 200 day simple moving average of $421.28. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a market cap of $98.18 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ELV. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Argus upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Monday, March 17th. Barclays boosted their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

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.