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

Stratos Investment Management LLC grew its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 324.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 hedge funds and other institutional investors have also modified their holdings of the stock. Milestone Asset Management LLC grew its position in shares of Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after purchasing an additional 24 shares during the last quarter. Elser Financial Planning Inc lifted its stake in Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after purchasing an additional 26 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after purchasing an additional 27 shares during the last quarter. Barlow Wealth Partners Inc. lifted its stake in shares of Elevance Health by 1.3% in the 1st quarter. Barlow Wealth Partners Inc. now owns 2,280 shares of the company's stock valued at $961,000 after acquiring an additional 30 shares during the last quarter. Finally, McLean Asset Management Corp lifted its stake in shares of Elevance Health by 2.3% in the 1st quarter. McLean Asset Management Corp now owns 1,439 shares of the company's stock valued at $620,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 18,977 shares in the company, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ELV. Royal Bank Of Canada restated an "outperform" rating and issued a $478.00 price objective on shares of Elevance Health in a report on Wednesday, June 4th. Guggenheim restated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Truist Financial set a $500.00 target price on Elevance Health and gave the company a "buy" rating in a research note on Monday, June 9th. Argus set a $465.00 price target on shares of Elevance Health in a research report on Friday, April 25th. Finally, Barclays dropped their price target on shares of Elevance Health from $480.00 to $434.00 and set an "overweight" rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $495.80.

Elevance Health Stock Performance

Shares of ELV stock traded down $5.82 during trading hours on Friday, hitting $340.04. 1,698,140 shares of the company were exchanged, compared to its average volume of 1,633,788. The firm has a fifty day simple moving average of $380.88 and a 200 day simple moving average of $397.57. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a 52-week low of $337.61 and a 52-week high of $567.26. The stock has a market capitalization of $76.83 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.87 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $46.26 billion. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 2.01%. Elevance Health's dividend payout ratio is 26.69%.

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.