Elevance Health, Inc. (NYSE:ELV) Shares Bought by Stratos Investment Management LLC

Stratos Investment Management LLC increased its holdings in Elevance Health, Inc. (NYSE:ELV) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,379 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Stratos Investment Management LLC’s holdings in Elevance Health were worth $717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ELV. Massachusetts Financial Services Co. MA raised its position in shares of Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares during the period. M&G Plc purchased a new position in Elevance Health in the 1st quarter worth about $203,389,000. Maj Invest Holding A S acquired a new stake in Elevance Health during the 2nd quarter worth about $173,753,000. First Eagle Investment Management LLC lifted its stake in Elevance Health by 15.5% during the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of Elevance Health in the first quarter worth about $109,435,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 3.1 %

Elevance Health stock opened at $430.76 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26. The firm’s fifty day simple moving average is $526.74 and its 200-day simple moving average is $527.46. The company has a market capitalization of $100.12 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $8.99 earnings per share. Sell-side analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,170 shares of company stock worth $20,638,737. 0.35% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ELV shares. Bank of America restated a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. Raymond James set a $485.00 price target on Elevance Health in a report on Friday. UBS Group reduced their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday. Finally, Royal Bank of Canada lowered their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $572.27.

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.