Stratos Wealth Partners LTD. Has $1.23 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Stratos Wealth Partners LTD. lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 20.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,837 shares of the company's stock after selling 740 shares during the period. Stratos Wealth Partners LTD.'s holdings in Elevance Health were worth $1,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in Elevance Health during the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the 4th quarter valued at $26,000. WealthTrak Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter valued at $29,000. Lee Danner & Bass Inc. acquired a new stake in Elevance Health during the 4th quarter valued at $30,000. Finally, Riverview Trust Co raised its stake in Elevance Health by 1,340.0% during the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Performance

ELV stock traded down $0.90 during mid-day trading on Monday, reaching $339.77. 1,652,623 shares of the stock traded hands, compared to its average volume of 1,633,865. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 52 week low of $335.24 and a 52 week high of $567.26. The business has a 50-day moving average of $379.34 and a two-hundred day moving average of $397.52. The firm has a market capitalization of $76.77 billion, a PE ratio of 13.26, a P/E/G ratio of 0.87 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. As a group, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ELV. Baird R W downgraded shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Mizuho upped their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Wall Street Zen raised shares of Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $491.07.

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.