Forvis Mazars Wealth Advisors LLC Buys 47 Shares of Elevance Health, Inc. $ELV

Forvis Mazars Wealth Advisors LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,036 shares of the company’s stock after purchasing an additional 47 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Elevance Health were worth $3,126,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Elevance Health in the 1st quarter worth about $789,943,000. Orbis Allan Gray Ltd increased its stake in shares of Elevance Health by 31.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,849,173 shares of the company’s stock worth $1,239,276,000 after acquiring an additional 680,228 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Elevance Health by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 22,152,108 shares of the company’s stock worth $9,635,281,000 after acquiring an additional 666,534 shares in the last quarter. Boston Partners increased its stake in shares of Elevance Health by 241.3% in the 1st quarter. Boston Partners now owns 856,737 shares of the company’s stock worth $372,039,000 after acquiring an additional 605,689 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Elevance Health by 13.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock worth $1,164,041,000 after acquiring an additional 324,040 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Stock Up 0.2%

NYSE:ELV opened at $348.93 on Friday. The firm has a market cap of $78.57 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.27 and a beta of 0.59. 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 fifty-two week low of $273.71 and a fifty-two week high of $458.75. The firm has a 50-day simple moving average of $321.94 and a two-hundred day simple moving average of $355.81.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to analysts’ expectations of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $10.12 EPS. Analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ELV has been the subject of several research reports. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research note on Tuesday, July 22nd. Sanford C. Bernstein reduced their price objective on shares of Elevance Health from $445.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, UBS Group reduced their price objective on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $404.72.

Insider Activity

In related news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $312.15 per share, with a total value of $374,580.00. Following the acquisition, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

About Elevance Health

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.