Stratos Investment Management LLC Purchases 1,987 Shares of Elevance Health, Inc. (NYSE:ELV)

Stratos Investment Management LLC increased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 324.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,599 shares of the company's stock after acquiring an additional 1,987 shares during the quarter. Stratos Investment Management LLC's holdings in Elevance Health were worth $1,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. grew its holdings in shares of Elevance Health by 0.3% during the first quarter. Brown Advisory Inc. now owns 425,326 shares of the company's stock worth $184,999,000 after buying an additional 1,283 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Elevance Health by 38.5% in the first quarter. China Universal Asset Management Co. Ltd. now owns 4,303 shares of the company's stock valued at $1,872,000 after buying an additional 1,197 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in Elevance Health by 14.9% during the first quarter. Beverly Hills Private Wealth LLC now owns 13,552 shares of the company's stock worth $5,895,000 after purchasing an additional 1,755 shares during the period. Abound Financial LLC acquired a new position in Elevance Health in the 1st quarter valued at about $176,000. Finally, J Hagan Capital Inc. bought a new position in shares of Elevance Health during the first quarter worth approximately $552,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Elevance Health Stock Down 1.0%

NYSE:ELV traded down $3.35 on Wednesday, hitting $346.11. The stock had a trading volume of 1,822,042 shares, compared to its average volume of 1,617,651. Elevance Health, Inc. has a 1 year low of $342.86 and a 1 year high of $567.26. The firm's fifty day simple moving average is $385.03 and its two-hundred day simple moving average is $398.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market cap of $78.20 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60.

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

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction 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 SEC, which is accessible through this link. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Guggenheim reaffirmed a "buy" rating and set a $518.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $495.80.

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.