Elevance Health, Inc. (NYSE:ELV) Stock Holdings Trimmed by Lindbrook Capital LLC

Lindbrook Capital LLC reduced its position in Elevance Health, Inc. (NYSE:ELV) by 40.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 386 shares of the company’s stock after selling 257 shares during the period. Lindbrook Capital LLC’s holdings in Elevance Health were worth $142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp boosted its stake in Elevance Health by 309.7% in the third quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after acquiring an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after acquiring an additional 334,552 shares during the period. Wellington Management Group LLP boosted its stake in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after acquiring an additional 286,905 shares during the period. World Investment Advisors LLC acquired a new position in Elevance Health in the third quarter valued at approximately $129,221,000. Finally, Raymond James Financial Inc. acquired a new position in Elevance Health in the fourth quarter valued at approximately $88,882,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Argus restated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $409.59 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $93.12 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.18 and a beta of 0.83. The stock’s 50 day moving average price is $390.64 and its 200 day moving average price is $434.88. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.67%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

About Elevance Health

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.