Lindbrook Capital LLC Has $334,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

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

Several other institutional investors have also bought and sold shares of ELV. Assetmark Inc. increased its position in shares of Elevance Health by 1.8% during the 3rd quarter. Assetmark Inc. now owns 12,135 shares of the company’s stock worth $6,310,000 after purchasing an additional 220 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Elevance Health by 12.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 18,661 shares of the company’s stock worth $9,704,000 after acquiring an additional 2,039 shares during the last quarter. Executive Wealth Management LLC bought a new position in shares of Elevance Health in the third quarter worth about $10,901,000. CWA Asset Management Group LLC acquired a new position in shares of Elevance Health during the third quarter worth approximately $469,000. Finally, Equitable Trust Co. grew its stake in shares of Elevance Health by 159.6% during the third quarter. Equitable Trust Co. now owns 1,760 shares of the company’s stock valued at $915,000 after purchasing an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELV. TD Cowen decreased their price objective on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Barclays lowered their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Stephens reiterated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Finally, UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.20.

Elevance Health Stock Performance

ELV opened at $422.62 on Friday. The business’s 50-day simple moving average is $489.22 and its 200 day simple moving average is $517.94. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $98.01 billion, a PE ratio of 15.41, a PEG ratio of 1.28 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.99 EPS. As a group, sell-side analysts expect that Elevance Health, Inc. will post 32.95 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

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.