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

Lindbrook Capital LLC decreased its stake in Elevance Health, Inc. (NYSE:ELV) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 643 shares of the company’s stock after selling 38 shares during the period. Lindbrook Capital LLC’s holdings in Elevance Health were worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new position in Elevance Health in the 2nd quarter worth about $27,000. PSI Advisors LLC bought a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $28,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health during the 2nd quarter valued at $30,000. Finally, Eastern Bank bought a new stake in Elevance Health during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ELV. Morgan Stanley cut their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Barclays dropped their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Bank of America reaffirmed a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Cantor Fitzgerald cut their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Truist Financial restated a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given 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 $539.20.

Elevance Health Trading Down 1.6 %

NYSE:ELV opened at $422.62 on Friday. The company’s 50 day moving average is $489.22 and its 200-day moving average is $517.94. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26. The firm has a market cap of $98.01 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.28 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter last year, the business earned $8.99 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 32.95 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Elevance Health 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.