Stratos Investment Management LLC Grows Position in Elevance Health, Inc. (NYSE:ELV)

Stratos Investment Management LLC boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 324.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,599 shares of the company's stock after purchasing an additional 1,987 shares during the period. Stratos Investment Management LLC's holdings in Elevance Health were worth $1,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ELV. Brown Advisory Inc. grew its position in Elevance Health by 0.3% in the 1st quarter. Brown Advisory Inc. now owns 425,326 shares of the company's stock valued at $184,999,000 after acquiring an additional 1,283 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Elevance Health by 38.5% during 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 purchasing an additional 1,197 shares in the last quarter. Beverly Hills Private Wealth LLC raised its stake in Elevance Health by 14.9% in the first quarter. Beverly Hills Private Wealth LLC now owns 13,552 shares of the company's stock valued at $5,895,000 after buying an additional 1,755 shares during the last quarter. Abound Financial LLC purchased a new position in shares of Elevance Health in the first quarter worth about $176,000. Finally, J Hagan Capital Inc. purchased a new position in shares of Elevance Health in the first quarter worth about $552,000. 89.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

ELV has been the topic of a number of research analyst reports. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Argus set a $465.00 target price on shares of Elevance Health in a report on Friday, April 25th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $498.87.

Elevance Health Price Performance

Elevance Health stock opened at $349.25 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $78.91 billion, a PE ratio of 13.63, a P/E/G ratio of 0.88 and a beta of 0.60. Elevance Health, Inc. has a 12 month low of $343.72 and a 12 month high of $567.26. The stock has a 50-day moving average price of $385.03 and a two-hundred day moving average price of $398.16.

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

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.96%. The ex-dividend date was Tuesday, June 10th. Elevance Health's payout ratio is 26.69%.

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.

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