Transcend Capital Advisors LLC Sells 43 Shares of Elevance Health, Inc. (NYSE:ELV)

Transcend Capital Advisors LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 742 shares of the company’s stock after selling 43 shares during the period. Transcend Capital Advisors LLC’s holdings in Elevance Health were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Elevance Health in the fourth quarter worth $1,347,434,000. Massachusetts Financial Services Co. MA bought a new stake in Elevance Health during the fourth quarter worth $467,141,000. Canoe Financial LP raised its position in Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after acquiring an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC bought a new stake in Elevance Health during the fourth quarter worth $239,244,000. Finally, Focused Investors Fund L P bought a new stake in Elevance Health during the first quarter worth $249,884,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Up 0.6 %

Shares of NYSE ELV traded up $2.94 during trading hours on Friday, hitting $535.17. 874,644 shares of the company traded hands, compared to its average volume of 1,331,405. The stock has a market capitalization of $124.10 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $529.51 and its 200 day moving average price is $518.01. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter in the previous year, the business earned $9.04 EPS. Elevance Health’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Mizuho increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $604.29.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were 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 directly owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

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.