Transform Wealth LLC Reduces Stock Position in Elevance Health, Inc. (NYSE:ELV)

Transform Wealth LLC cut its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,125 shares of the company’s stock after selling 256 shares during the quarter. Transform Wealth LLC’s holdings in Elevance Health were worth $3,185,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bank & Trust Co bought a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $27,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health in the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $30,000. Finally, Register Financial Advisors LLC acquired a new position in Elevance Health during the 1st quarter valued at approximately $32,000. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ELV. Royal Bank of Canada boosted their price objective on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Wells Fargo & Company reduced their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Morgan Stanley began coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Stephens restated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. Finally, Bank of America restated a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Buy” and an average price target of $605.07.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction 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 sale, the director now directly owns 8,744 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now directly owns 9,721 shares in the company, valued at $4,926,213.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 over the last 90 days. 0.35% of the stock is currently owned by company insiders.

Elevance Health Price Performance

Shares of Elevance Health stock traded up $8.76 during trading on Wednesday, hitting $492.63. The stock had a trading volume of 369,216 shares, compared to its average volume of 1,024,021. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $114.50 billion, a P/E ratio of 18.29, a PEG ratio of 1.08 and a beta of 0.82. The business has a fifty day moving average of $530.86 and a two-hundred day moving average of $528.85. Elevance Health, Inc. has a fifty-two week low of $437.42 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.04 earnings per share. On average, sell-side analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

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.