Transcend Capital Advisors LLC Sells 121 Shares of Elevance Health, Inc. (NYSE:ELV)

Transcend Capital Advisors LLC cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 647 shares of the company’s stock after selling 121 shares during the period. Transcend Capital Advisors LLC’s holdings in Elevance Health were worth $239,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Raelipskie Partnership bought a new position in shares of Elevance Health in the third quarter valued at approximately $26,000. Eastern Bank bought a new position in shares of Elevance Health in the third quarter valued at approximately $31,000. Dunhill Financial LLC grew its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Peterson Financial Group Inc. bought a new position in Elevance Health during the third quarter valued at $44,000. Finally, Crews Bank & Trust bought a new position in Elevance Health during the fourth quarter valued at $34,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 1.4 %

Shares of ELV stock opened at $385.04 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a market capitalization of $89.30 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The business’s fifty day moving average is $385.25 and its 200 day moving average is $443.22.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is 25.46%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ELV. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company reduced their price objective on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Finally, Argus reissued a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $517.03.

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.