Legal & General Group Plc Has $620.83 Million Stake in Elevance Health, Inc. $ELV

Legal & General Group Plc boosted its stake in Elevance Health, Inc. (NYSE:ELV) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,921,353 shares of the company’s stock after acquiring an additional 88,254 shares during the quarter. Legal & General Group Plc’s holdings in Elevance Health were worth $620,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELV. Vermillion & White Wealth Management Group LLC increased its holdings in Elevance Health by 94.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Elevance Health in the second quarter valued at about $32,000. Physician Wealth Advisors Inc. boosted its position in shares of Elevance Health by 331.6% during the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after buying an additional 63 shares during the period. Rossby Financial LCC boosted its position in shares of Elevance Health by 110.0% during the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after buying an additional 44 shares during the period. Finally, Activest Wealth Management grew its holdings in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after buying an additional 34 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV opened at $282.92 on Wednesday. The business’s 50-day simple moving average is $341.97 and its 200 day simple moving average is $334.91. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market capitalization of $62.44 billion, a PE ratio of 11.26, a PEG ratio of 1.55 and a beta of 0.51.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 27.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Guggenheim reduced their price target on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Mizuho set a $413.00 price objective on shares of Elevance Health in a research report on Friday, January 9th. Finally, UBS Group set a $400.00 target price on shares of Elevance Health in a report on Thursday, January 29th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health Company 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.