Transcend Capital Advisors LLC Buys 54 Shares of Elevance Health, Inc. $ELV

Transcend Capital Advisors LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 876 shares of the company’s stock after acquiring an additional 54 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Elevance Health were worth $341,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its position in Elevance Health by 0.4% during the second quarter. Bessemer Group Inc. now owns 139,220 shares of the company’s stock valued at $54,151,000 after acquiring an additional 493 shares during the last quarter. Brookwood Investment Group LLC increased its position in Elevance Health by 540.2% during the second quarter. Brookwood Investment Group LLC now owns 3,092 shares of the company’s stock valued at $1,203,000 after acquiring an additional 2,609 shares during the last quarter. First Command Advisory Services Inc. increased its position in Elevance Health by 23.9% during the second quarter. First Command Advisory Services Inc. now owns 223 shares of the company’s stock valued at $87,000 after acquiring an additional 43 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Elevance Health during the second quarter valued at $1,162,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in Elevance Health by 114.6% during the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,532 shares of the company’s stock valued at $572,000 after acquiring an additional 818 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 0.9%

Shares of NYSE ELV opened at $336.41 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $328.79 and a two-hundred day simple moving average of $350.22. The firm has a market cap of $74.76 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.24 and a beta of 0.59. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion for the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $8.37 EPS. Analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Leerink Partnrs cut Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Wells Fargo & Company reduced their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Bank of America upped their price target on Elevance Health from $330.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Leerink Partners restated a “market perform” rating and issued a $310.00 price target (down previously from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $398.44.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the acquisition, the director directly owned 3,502 shares of the company’s stock, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is owned by insiders.

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.