Transform Wealth LLC Sells 5,134 Shares of Elevance Health, Inc. (NYSE:ELV)

Transform Wealth LLC lessened its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 86.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the company's stock after selling 5,134 shares during the quarter. Transform Wealth LLC's holdings in Elevance Health were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ELV. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health in the 4th quarter worth about $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter worth about $26,000. OFI Invest Asset Management purchased a new position in Elevance Health in the 4th quarter worth about $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health in the 4th quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $1.73 during mid-day trading on Friday, reaching $384.49. 958,480 shares of the company traded hands, compared to its average volume of 1,558,216. The company's 50 day moving average price is $404.71 and its 200-day moving average price is $400.17. The firm has a market cap of $86.87 billion, a PE ratio of 15.01, a PEG ratio of 1.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 52 week low of $357.45 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.78%. Elevance Health's dividend payout ratio is presently 26.69%.

Insider Buying and Selling

In related news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ELV shares. Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Mizuho boosted their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays cut their price target on Elevance Health from $522.00 to $480.00 and set an "overweight" rating for the company in a research note on Monday, June 2nd. Finally, Argus set a $465.00 price target on Elevance Health in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $498.87.

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.