Strategy Asset Managers LLC Sells 1,203 Shares of Elevance Health, Inc. (NYSE:ELV)

Strategy Asset Managers LLC cut its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,740 shares of the company's stock after selling 1,203 shares during the period. Strategy Asset Managers LLC's holdings in Elevance Health were worth $2,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raelipskie Partnership bought a new stake in shares of Elevance Health in the 3rd quarter worth about $26,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health in the fourth quarter worth about $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Elevance Health during the 4th quarter worth $30,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of ELV stock traded down $3.33 during midday trading on Wednesday, hitting $429.35. 424,874 shares of the company were exchanged, compared to its average volume of 1,393,022. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a market capitalization of $97.61 billion, a P/E ratio of 16.76, a PEG ratio of 1.18 and a beta of 0.86. The firm's 50 day moving average price is $406.34 and its two-hundred day moving average price is $418.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

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Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Monday, March 10th. This is a boost from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is presently 26.71%.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on ELV. Barclays upped their price objective on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Truist Financial dropped their target price on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $519.81.

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.