Royal London Asset Management Ltd. Has $119.22 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Royal London Asset Management Ltd. lifted its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 229,260 shares of the company's stock after buying an additional 5,960 shares during the period. Royal London Asset Management Ltd. owned approximately 0.10% of Elevance Health worth $119,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. raised its position in shares of Elevance Health by 19.8% during the second quarter. Mather Group LLC. now owns 400 shares of the company's stock worth $207,000 after purchasing an additional 66 shares during the period. CWM LLC raised its position in Elevance Health by 14.5% during the second quarter. CWM LLC now owns 8,433 shares of the company's stock valued at $4,570,000 after buying an additional 1,068 shares during the period. BDF Gestion purchased a new position in Elevance Health in the second quarter valued at about $5,837,000. Capital Investment Advisors LLC grew its stake in Elevance Health by 3.2% in the second quarter. Capital Investment Advisors LLC now owns 861 shares of the company's stock valued at $467,000 after purchasing an additional 27 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Elevance Health by 2.7% in the second quarter. QRG Capital Management Inc. now owns 81,075 shares of the company's stock valued at $43,931,000 after purchasing an additional 2,166 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company's stock, valued at approximately $3,639,915.22. This represents a 46.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cantor Fitzgerald lowered their target price on Elevance Health from $600.00 to $485.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Stephens reiterated an "underperform" rating on shares of Elevance Health in a research note on Friday, October 18th. Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. Finally, Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $539.20.

Elevance Health Price Performance

Shares of ELV traded down $4.58 during mid-day trading on Thursday, reaching $393.90. The company had a trading volume of 591,062 shares, compared to its average volume of 1,191,642. Elevance Health, Inc. has a twelve month low of $391.02 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company's 50-day moving average is $439.60 and its 200-day moving average is $501.50. The company has a market capitalization of $91.35 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.21 and a beta of 0.83.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $8.99 earnings per share. On average, equities analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.66%. Elevance Health's payout ratio is 23.77%.

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.