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

Strategy Asset Managers LLC lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & 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 quarter.

A number of other institutional investors also recently modified their holdings of the business. Allianz SE purchased a new stake in Elevance Health during the 4th quarter worth about $5,339,000. Transamerica Financial Advisors Inc. boosted its stake in Elevance Health by 20,500.0% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 206 shares of the company’s stock valued at $76,000 after buying an additional 205 shares during the period. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter worth about $29,000. Allstate Corp purchased a new stake in shares of Elevance Health in the 4th quarter valued at about $2,555,000. Finally, DnB Asset Management AS boosted its position in shares of Elevance Health by 5.8% during the 4th quarter. DnB Asset Management AS now owns 59,246 shares of the company’s stock valued at $21,856,000 after acquiring an additional 3,263 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $431.84 on Friday. The firm has a market capitalization of $98.18 billion, a PE ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 0.86. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average price of $404.45 and a 200-day moving average price of $422.13. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

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

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. Elevance Health’s dividend payout ratio is 26.71%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ELV. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $519.81.

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.