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

Lindbrook Capital LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 72.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 595 shares of the company’s stock after buying an additional 250 shares during the period. Lindbrook Capital LLC’s holdings in Elevance Health were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Sanders Capital LLC lifted its holdings in Elevance Health by 1.4% during the 3rd quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after buying an additional 58,013 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Elevance Health by 0.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after purchasing an additional 27,986 shares during the last quarter. Morgan Stanley increased its position in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after purchasing an additional 46,322 shares during the last quarter. Northern Trust Corp increased its position in shares of Elevance Health by 2.4% in the 3rd quarter. Northern Trust Corp now owns 2,416,459 shares of the company’s stock valued at $1,052,175,000 after purchasing an additional 57,098 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Elevance Health by 7.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,379,046 shares of the company’s stock valued at $1,035,884,000 after purchasing an additional 160,524 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ELV has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $587.64.

Elevance Health Stock Up 0.1 %

ELV stock opened at $532.17 on Tuesday. The company has a market cap of $123.69 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $539.11. The company’s 50-day moving average price is $509.68 and its 200 day moving average price is $484.51. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.46 earnings per share. On average, research analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Elevance Health Company Profile

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.