Lincoln National Corp Purchases 492 Shares of Elevance Health, Inc. (NYSE:ELV)

Lincoln National Corp raised its position in shares of Elevance Health, Inc. (NYSE:ELV) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,725 shares of the company’s stock after buying an additional 492 shares during the quarter. Lincoln National Corp’s holdings in Elevance Health were worth $1,756,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. abrdn plc raised its position in Elevance Health by 86.8% during the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC lifted its stake in Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $218,000. Commonwealth Equity Services LLC lifted its position in Elevance Health by 8.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 55,262 shares of the company’s stock valued at $26,060,000 after acquiring an additional 4,362 shares during the last quarter. Finally, Chicago Capital LLC increased its position in shares of Elevance Health by 244.2% during the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after purchasing an additional 4,986 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Down 0.4 %

Elevance Health stock traded down $2.13 during trading on Wednesday, reaching $534.04. The stock had a trading volume of 166,350 shares, compared to its average volume of 1,035,591. The business has a 50 day moving average price of $514.57 and a 200 day moving average price of $490.26. The stock has a market cap of $124.12 billion, a PE ratio of 20.26, a P/E/G ratio of 1.16 and a beta of 0.79. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period last year, the firm earned $9.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Elevance Health, Inc. will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Mizuho upped their target price on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Barclays lifted their price target on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Insider Activity

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

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.