Transcend Capital Advisors LLC Has $239,000 Position in Elevance Health, Inc. (NYSE:ELV)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELV. Pathway Financial Advisers LLC lifted its holdings in Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after buying an additional 656,344 shares during the period. Stifel Financial Corp lifted its stake in shares of Elevance Health by 309.7% in the 3rd quarter. Stifel Financial Corp now owns 713,027 shares of the company’s stock valued at $370,794,000 after purchasing an additional 538,978 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Elevance Health by 16.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after purchasing an additional 334,552 shares during the period. Wellington Management Group LLP lifted its stake in shares of Elevance Health by 6.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at about $129,221,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Argus reissued a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Barclays boosted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Finally, StockNews.com downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $385.04 on Monday. The company has a market cap 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. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The business has a 50 day moving average price of $385.25 and a 200-day moving average price of $443.22. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS 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%. Equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health’s dividend payout ratio is 25.46%.

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.