Forvis Mazars Wealth Advisors LLC Sells 409 Shares of Elevance Health, Inc. (NYSE:ELV)

Forvis Mazars Wealth Advisors LLC decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ELV. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Dakota Wealth Management lifted its position in Elevance Health by 12.9% in the third quarter. Dakota Wealth Management now owns 1,068 shares of the company’s stock worth $555,000 after buying an additional 122 shares during the last quarter. Mediolanum International Funds Ltd boosted its stake in Elevance Health by 56.5% during the third quarter. Mediolanum International Funds Ltd now owns 8,328 shares of the company’s stock worth $4,356,000 after buying an additional 3,007 shares during the period. Joel Isaacson & Co. LLC increased its position in Elevance Health by 9.0% during the third quarter. Joel Isaacson & Co. LLC now owns 1,243 shares of the company’s stock valued at $646,000 after acquiring an additional 103 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Elevance Health by 6.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,882 shares of the company’s stock valued at $18,275,000 after acquiring an additional 2,176 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $385.04 on Monday. The firm has a market cap of $89.30 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52-week low of $362.21 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $385.25 and its 200 day moving average is $443.22.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is currently 25.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ELV shares. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on 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 cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday. Finally, Barclays increased their target price on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.