Legal & General Group Plc Purchases 88,254 Shares of Elevance Health, Inc. $ELV

Key Points

• Legal & General Group Plc increased its stake in Elevance Health by 88,254 shares in Q3, bringing its holding to 1,921,353 shares (0.86% of the company) valued at about $620.8 million.
• Several large institutions—including Norges Bank, Sanders Capital, Artisan Partners and First Eagle—materially added or initiated positions, leaving institutional investors with roughly 89.24% ownership of ELV.
• Analysts maintain a consensus rating of "Moderate Buy" with a $390.55 average target after recent cuts; Elevance also beat Q earnings (EPS $3.33 vs. $3.10), reported revenue up 9.6% year‑over‑year, and raised its quarterly dividend to $1.72 (2.4% yield).

Legal & General Group Plc grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,921,353 shares of the company's stock after buying an additional 88,254 shares during the period. Legal & General Group Plc owned 0.86% of Elevance Health worth $620,828,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ELV. Norges Bank bought a new stake in shares of Elevance Health during the 2nd quarter valued at $1,148,379,000. Sanders Capital LLC boosted its position in shares of Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company's stock worth $2,265,773,000 after purchasing an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Elevance Health by 24.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company's stock worth $1,478,857,000 after purchasing an additional 901,626 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Elevance Health by 25.0% during the third quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company's stock worth $1,292,029,000 after purchasing an additional 798,457 shares during the period. Finally, Beutel Goodman & Co Ltd. bought a new stake in Elevance Health in the second quarter valued at about $293,141,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ELV. Sanford C. Bernstein cut their target price on Elevance Health from $431.00 to $409.00 and set an "outperform" rating on the stock in a research note on Friday, January 30th. Mizuho set a $413.00 price target on Elevance Health in a research note on Friday, January 9th. Wells Fargo & Company cut their price target on shares of Elevance Health from $424.00 to $391.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Barclays reduced their price objective on shares of Elevance Health from $404.00 to $393.00 and set an "overweight" rating on the stock in a research note on Friday, January 30th. Finally, Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the company an "outperform" rating in a report on Thursday, January 8th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus target price of $390.55.

Elevance Health Stock Performance

ELV stock opened at $282.92 on Wednesday. Elevance Health, Inc. has a 1-year low of $273.71 and a 1-year high of $458.75. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a market cap of $62.44 billion, a PE ratio of 11.26, a P/E/G ratio of 1.55 and a beta of 0.51. The business's 50-day moving average price is $341.97 and its two-hundred day moving average price is $334.91.

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

Elevance Health Increases Dividend

The firm 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 dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.71. Elevance Health's dividend payout ratio (DPR) is currently 27.23%.

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.

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