Transform Wealth LLC Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Transform Wealth LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 86.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the company’s stock after selling 5,134 shares during the quarter. Transform Wealth LLC’s holdings in Elevance Health were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Leonard Rickey Investment Advisors P.L.L.C. raised its holdings in Elevance Health by 11.7% in the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,185 shares of the company’s stock worth $523,000 after buying an additional 124 shares during the last quarter. CX Institutional raised its holdings in Elevance Health by 72.0% in the 1st quarter. CX Institutional now owns 1,486 shares of the company’s stock worth $646,000 after acquiring an additional 622 shares during the last quarter. Integrated Advisors Network LLC lifted its position in Elevance Health by 1.7% in the 1st quarter. Integrated Advisors Network LLC now owns 3,520 shares of the company’s stock valued at $1,531,000 after acquiring an additional 59 shares in the last quarter. Orgel Wealth Management LLC purchased a new stake in Elevance Health during the 1st quarter valued at $211,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Elevance Health by 5.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 718 shares of the company’s stock worth $312,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In related news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer now owns 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research analyst reports. Argus set a $465.00 price target on Elevance Health in a report on Friday, April 25th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a “buy” rating in a research note on Monday. Robert W. Baird reiterated a “neutral” rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Mizuho increased their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $498.87.

Elevance Health Trading Down 0.9%

Shares of NYSE:ELV opened at $380.65 on Thursday. Elevance Health, Inc. has a 12-month low of $357.45 and a 12-month high of $567.26. The company has a market cap of $86.00 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.60. The stock has a 50 day moving average of $406.37 and a 200 day moving average of $400.45. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analysts’ expectations of $46.26 billion. 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 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.80%. Elevance Health’s dividend payout ratio is presently 26.69%.

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.