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

Strategy Asset Managers LLC reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 17.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,740 shares of the company’s stock after selling 1,203 shares during the quarter. 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 have also modified their holdings of the stock. Dunhill Financial LLC grew its stake in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Tobam grew its position in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after buying an additional 27 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after acquiring an additional 27 shares in the last quarter. Austin Private Wealth LLC grew its holdings in Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock worth $736,000 after acquiring an additional 29 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares in the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $431.84 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market capitalization of $98.18 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. The business’s fifty day moving average price is $404.45 and its 200 day moving average price is $422.13.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors 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 1.58%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is 26.71%.

Analyst Ratings Changes

Several equities analysts have issued reports on ELV shares. Barclays lifted their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday, March 17th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $519.81.

Insider Activity at Elevance Health

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

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.