Elevance Health, Inc. (NYSE:ELV) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 40.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 386 shares of the company’s stock after selling 257 shares during the quarter. Lindbrook Capital LLC’s holdings in Elevance Health were worth $142,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth $26,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health during the fourth quarter worth $34,000. Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health during the third quarter worth $44,000. Finally, Financial Perspectives Inc acquired a new stake in shares of Elevance Health during the fourth quarter worth $50,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 1.7 %

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 firm has a market capitalization of $93.12 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business’s 50-day moving average is $390.64 and its two-hundred day moving average is $434.88.

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

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is presently 26.71%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ELV shares. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday, March 1st. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

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.