Skandinaviska Enskilda Banken AB publ Has $24.32 Million Position in Elevance Health, Inc. $ELV

Skandinaviska Enskilda Banken AB publ grew its stake in Elevance Health, Inc. (NYSE:ELV) by 24.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 62,527 shares of the company’s stock after purchasing an additional 12,154 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Elevance Health were worth $24,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hemington Wealth Management grew its holdings in Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after purchasing an additional 27 shares during the period. Aspen Investment Management Inc boosted its holdings in shares of Elevance Health by 2.6% during the 1st quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after buying an additional 27 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in Elevance Health by 5.3% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after acquiring an additional 30 shares during the period. Regatta Capital Group LLC boosted its holdings in shares of Elevance Health by 3.0% during the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after acquiring an additional 30 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Elevance Health by 1.5% during the first quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after purchasing an additional 32 shares during the period. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ELV shares. The Goldman Sachs Group assumed coverage on shares of Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price for the company. Morgan Stanley lifted their price objective on shares of Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Guggenheim increased their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Truist Financial set a $400.00 target price on shares of Elevance Health in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein lowered their price objective on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, October 16th. Twelve 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. According to MarketBeat, Elevance Health presently has a consensus rating of “Hold” and an average price target of $398.44.

Elevance Health Price Performance

Elevance Health stock opened at $332.15 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The stock has a market capitalization 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 stock has a fifty day moving average of $333.18 and a 200-day moving average of $335.91.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.37 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, December 5th. This represents a $6.84 dividend on an annualized basis and a yield of 2.1%. Elevance Health’s payout ratio is currently 27.96%.

Elevance Health Company 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.