FSM Wealth Advisors LLC Buys 145 Shares of Elevance Health, Inc. $ELV

FSM Wealth Advisors LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 842 shares of the company’s stock after purchasing an additional 145 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Elevance Health were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ELV. Nuveen LLC acquired a new position in shares of Elevance Health during the first quarter worth $789,943,000. Orbis Allan Gray Ltd grew its position in Elevance Health by 31.4% during 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 during the last quarter. Vanguard Group Inc. grew its position in Elevance Health by 3.1% during 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 during the last quarter. Boston Partners increased its holdings in 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 purchasing an additional 605,689 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Elevance Health by 13.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,676,203 shares of the company’s stock valued at $1,164,041,000 after purchasing an additional 324,040 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Sanford C. Bernstein reduced their price target on Elevance Health from $445.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, October 16th. Leerink Partners reissued a “market perform” rating and set a $310.00 target price (down from $510.00) on shares of Elevance Health in a report on Friday, July 18th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research report on Wednesday. Leerink Partnrs lowered shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 17th. Finally, Weiss Ratings raised shares of Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Twelve research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.89.

Elevance Health Stock Up 0.3%

Shares of NYSE ELV opened at $346.36 on Friday. The company’s 50 day moving average price is $326.42 and its 200-day moving average price is $353.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.56. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a market capitalization of $76.97 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.26 and a beta of 0.59.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $8.37 earnings per share. Equities analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is currently 29.11%.

Insiders Place Their Bets

In other Elevance Health news, Director Susan D. Devore purchased 1,200 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.29% of the company’s stock.

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.