TIAA Trust National Association Increases Stock Position in Elevance Health, Inc. $ELV

TIAA Trust National Association grew its position in Elevance Health, Inc. (NYSE:ELV) by 1,038.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,020 shares of the company’s stock after purchasing an additional 51,098 shares during the period. TIAA Trust National Association’s holdings in Elevance Health were worth $19,638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Elevance Health by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after buying an additional 141,747 shares during the period. Wellington Management Group LLP grew its position in Elevance Health by 4.8% during the third quarter. Wellington Management Group LLP now owns 6,621,297 shares of the company’s stock valued at $2,139,473,000 after buying an additional 303,099 shares during the period. Artisan Partners Limited Partnership grew its position in Elevance Health by 24.5% during the third quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after buying an additional 901,626 shares during the period. First Eagle Investment Management LLC grew its position in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after buying an additional 24,271 shares during the period. Finally, Norges Bank bought a new position in Elevance Health during the fourth quarter valued at about $1,058,165,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Evercore restated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. The Goldman Sachs Group increased their price target on shares of Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Jefferies Financial Group reduced their price target on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Truist Financial increased their price target on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Finally, Morgan Stanley increased their price target on shares of Elevance Health from $352.00 to $404.00 and gave the company an “equal weight” rating in a research report on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $416.11.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $424.16 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $92.11 billion, a PE ratio of 18.04, a P/E/G ratio of 2.36 and a beta of 0.67. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $426.66. The company has a 50-day moving average price of $360.00 and a two-hundred day moving average price of $343.26.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities analysts forecast that Elevance Health, Inc. will post 26.94 EPS for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is presently 29.26%.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.