Transamerica Financial Advisors Inc. Has $76,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Transamerica Financial Advisors Inc. lifted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 20,500.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 206 shares of the company’s stock after purchasing an additional 205 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Elevance Health were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ELV. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth about $29,000. Allstate Corp bought a new stake in Elevance Health during the fourth quarter worth about $2,555,000. DnB Asset Management AS increased its holdings in shares of Elevance Health by 5.8% during the fourth quarter. DnB Asset Management AS now owns 59,246 shares of the company’s stock worth $21,856,000 after buying an additional 3,263 shares in the last quarter. Ramirez Asset Management Inc. raised its position in Elevance Health by 3,636.4% in the 4th quarter. Ramirez Asset Management Inc. now owns 411 shares of the company’s stock valued at $152,000 after purchasing an additional 400 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Elevance Health by 6,817.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock valued at $335,254,000 after buying an additional 895,658 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ELV. Wells Fargo & Company decreased their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Insider Transactions at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Price Performance

NYSE ELV opened at $431.84 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The stock has a market cap of $98.18 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.18 and a beta of 0.86. The business has a 50 day simple moving average of $404.45 and a 200 day simple moving average of $420.42. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

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.