Transcend Capital Advisors LLC decreased its position in Elevance Health, Inc. (NYSE:ELV – Get Rating) by 4.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 915 shares of the company’s stock after selling 40 shares during the period. Transcend Capital Advisors LLC’s holdings in Elevance Health were worth $421,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth approximately $25,000. Moisand Fitzgerald Tamayo LLC bought a new stake in Elevance Health in the fourth quarter valued at $25,000. Hexagon Capital Partners LLC bought a new stake in Elevance Health in the fourth quarter valued at $26,000. Destiny Wealth Partners LLC bought a new stake in Elevance Health in the fourth quarter valued at $26,000. Finally, Sugarloaf Wealth Management LLC bought a new stake in Elevance Health in the fourth quarter valued at $26,000. Institutional investors own 88.30% of the company’s stock.
Elevance Health Price Performance
ELV opened at $450.40 on Friday. The stock has a 50-day moving average price of $458.17 and a 200-day moving average price of $475.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $106.77 billion, a PE ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 0.85. Elevance Health, Inc. has a 1 year low of $428.87 and a 1 year high of $549.52.
Elevance Health (NYSE:ELV – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The company reported $9.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.26 by $0.20. Elevance Health had a return on equity of 20.05% and a net margin of 3.86%. The firm had revenue of $41.90 billion during the quarter, compared to analyst estimates of $40.93 billion. During the same quarter in the previous year, the firm earned $8.25 EPS. Elevance Health’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Elevance Health, Inc. will post 32.78 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Thursday, June 8th. Elevance Health’s dividend payout ratio (DPR) is 23.04%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Elevance Health in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Loop Capital cut their price target on shares of Elevance Health from $565.00 to $550.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Elevance Health from $571.00 to $575.00 in a research report on Thursday, April 20th. Wells Fargo & Company lowered their price objective on Elevance Health from $597.00 to $561.00 in a research report on Monday, April 24th. Finally, TD Cowen lowered their price objective on Elevance Health from $577.00 to $564.00 and set an “outperform” rating for the company in a research report on Thursday, April 20th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $569.27.
About Elevance Health
Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.
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