Forvis Mazars Wealth Advisors LLC Decreases Stock Position in Elevance Health, Inc. (NYSE:ELV)

Forvis Mazars Wealth Advisors LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,032 shares of the company’s stock after selling 409 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Elevance Health were worth $2,963,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ELV. Raelipskie Partnership purchased a new stake in Elevance Health during the 3rd quarter worth approximately $26,000. Eastern Bank acquired a new stake in shares of Elevance Health during the third quarter worth $31,000. Crews Bank & Trust purchased a new stake in shares of Elevance Health during the fourth quarter valued at $34,000. Dunhill Financial LLC increased its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the period. Finally, Peterson Financial Group Inc. purchased a new position in Elevance Health in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $385.04 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The business has a 50 day simple moving average of $385.25 and a two-hundred day simple moving average of $443.22. The stock has a market capitalization of $89.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26.

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

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 25.46%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELV. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Argus reiterated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a research report on Wednesday, January 29th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

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.