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

Lincoln National Corp grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,725 shares of the company’s stock after purchasing 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 filing with the SEC.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in Elevance Health during the third quarter worth $25,000. Alaska Permanent Fund Corp bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC raised its stake in shares of Elevance Health by 63.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 75 shares of the company’s stock valued at $35,000 after purchasing an additional 29 shares in the last quarter. ORG Partners LLC bought a new stake in Elevance Health in the 4th quarter valued at $40,000. Finally, Orion Capital Management LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at $46,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Down 0.4 %

ELV traded down $2.13 during midday trading on Wednesday, reaching $534.04. 166,350 shares of the company were exchanged, compared to its average volume of 1,035,591. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $124.12 billion, a P/E ratio of 20.26, a PEG ratio of 1.16 and a beta of 0.79. The stock’s 50-day simple moving average is $514.57 and its 200 day simple moving average is $490.26. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07.

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

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. 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%.

Insider Activity

In related news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated 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 directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELV. UBS Group upped their target price on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Wells Fargo & Company boosted their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Truist Financial restated a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Mizuho raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $587.42.

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.