Elevance Health, Inc. $ELV Shares Acquired by Transamerica Financial Advisors LLC

Transamerica Financial Advisors LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 107.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 428 shares of the company’s stock after acquiring an additional 222 shares during the period. Transamerica Financial Advisors LLC’s holdings in Elevance Health were worth $186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELV. AQR Capital Management LLC boosted its position in Elevance Health by 19.5% during the 4th quarter. AQR Capital Management LLC now owns 418,636 shares of the company’s stock valued at $154,435,000 after purchasing an additional 68,392 shares during the period. Utah Retirement Systems boosted its position in Elevance Health by 0.5% during the 4th quarter. Utah Retirement Systems now owns 38,650 shares of the company’s stock valued at $14,258,000 after purchasing an additional 200 shares during the period. Voleon Capital Management LP acquired a new position in Elevance Health during the 4th quarter valued at approximately $2,668,000. Keel Point LLC boosted its position in Elevance Health by 4.5% during the 4th quarter. Keel Point LLC now owns 1,254 shares of the company’s stock valued at $463,000 after purchasing an additional 54 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Elevance Health during the 4th quarter valued at approximately $17,043,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the subject of a number of analyst reports. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Argus reissued a “hold” rating on shares of Elevance Health in a report on Monday, July 21st. Wells Fargo & Company decreased their price objective on Elevance Health from $400.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, August 15th. Leerink Partnrs lowered Elevance Health from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Finally, UBS Group reiterated a “buy” rating and set a $484.00 price target (down previously from $555.00) on shares of Elevance Health in a research report on Monday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $413.81.

Elevance Health Trading Down 0.2%

Shares of ELV stock opened at $309.55 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $567.26. The stock has a fifty day moving average of $320.31 and a two-hundred day moving average of $376.99. The firm has a market capitalization of $69.71 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.58.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $10.12 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $6.84 annualized dividend and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio is 29.11%.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore bought 1,200 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the transaction, the director directly owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gail Boudreaux bought 8,500 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were bought at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares of the company’s stock, valued at $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.