Legal & General Group Plc Cuts Stake in Elevance Health, Inc. $ELV

Key Points

• Legal & General Group Plc cut its stake in Elevance Health by 2.9% in the fourth quarter, though it still held 1.87 million shares valued at about $654.3 million.
• Elevance Health has seen mixed but generally positive analyst sentiment, with Deutsche Bank and Mizuho both raising ratings and price targets. The stock now carries a consensus Moderate Buy and an average price target of $399.32.
• The company reported stronger-than-expected quarterly results, posting EPS of $12.58 versus estimates of $10.74 and revenue of $49.49 billion. It also announced a quarterly dividend of $1.72 per share, equal to a 1.7% annualized yield.

Legal & General Group Plc reduced its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,866,369 shares of the company's stock after selling 54,984 shares during the period. Legal & General Group Plc owned about 0.84% of Elevance Health worth $654,256,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ELV. Physician Wealth Advisors Inc. increased its stake in Elevance Health by 331.6% during the 3rd 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. Activest Wealth Management increased its stake in Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company's stock worth $27,000 after buying an additional 34 shares during the period. Rossby Financial LCC increased its position in shares of Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company's stock valued at $28,000 after purchasing an additional 44 shares during the last quarter. ORG Partners LLC increased its position in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company's stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Elevance Health in the 4th quarter valued at approximately $38,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a "hold" rating to a "buy" rating and increased their price objective for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Mizuho increased their price objective on shares of Elevance Health from $385.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday, May 20th. Leerink Partners set a $364.00 price objective on shares of Elevance Health in a research report on Thursday, April 23rd. Robert W. Baird increased their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $399.32.

Elevance Health Trading Down 0.1%

NYSE ELV opened at $394.41 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The firm's fifty day moving average price is $335.93 and its 200 day moving average price is $336.96. The company has a market capitalization of $85.65 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.23 and a beta of 0.66. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company's revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, sell-side analysts expect that Elevance Health, Inc. will post 26.91 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a dividend of $1.72 per share. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's dividend payout ratio is currently 29.26%.

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.

Want to see what other hedge funds are holding ELV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elevance Health, Inc. (NYSE:ELV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.