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

Skandinaviska Enskilda Banken AB publ lifted its stake in Elevance Health, Inc. (NYSE:ELV) by 24.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,527 shares of the company’s stock after purchasing an additional 12,154 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Elevance Health were worth $24,321,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ELV. Hemington Wealth Management lifted its stake in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after acquiring an additional 27 shares during the period. Aspen Investment Management Inc raised its holdings in 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 purchasing an additional 27 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in Elevance Health by 5.3% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 600 shares of the company’s stock valued at $261,000 after purchasing an additional 30 shares during the period. Regatta Capital Group LLC boosted its stake in shares of Elevance Health by 3.0% in the 2nd quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock valued at $405,000 after purchasing an additional 30 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Elevance Health by 1.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,163 shares of the company’s stock worth $934,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Down 1.9%

Shares of Elevance Health stock opened at $332.15 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The business has a 50-day moving average of $333.18 and a two-hundred day moving average of $335.91. The company 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 company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last released 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. 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 during the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the prior year, the company earned $8.37 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, December 5th. Elevance Health’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

ELV has been the topic of several analyst reports. Mizuho cut their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Bank of America increased their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, UBS Group decreased their target price on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Twelve investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently 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.