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

JFS Wealth Advisors LLC lowered its stake in Elevance Health, Inc. (NYSE:ELV) by 32.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201 shares of the company’s stock after selling 97 shares during the period. JFS Wealth Advisors LLC’s holdings in Elevance Health were worth $74,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ELV. Resonant Capital Advisors LLC increased its holdings in shares of Elevance Health by 43.9% in the third quarter. Resonant Capital Advisors LLC now owns 721 shares of the company’s stock worth $375,000 after buying an additional 220 shares during the period. OLD National Bancorp IN increased its holdings in shares of Elevance Health by 1.6% in the third quarter. OLD National Bancorp IN now owns 4,813 shares of the company’s stock worth $2,503,000 after buying an additional 74 shares during the period. Barden Capital Management Inc. increased its holdings in Elevance Health by 2.4% during the 3rd quarter. Barden Capital Management Inc. now owns 4,251 shares of the company’s stock valued at $2,211,000 after purchasing an additional 98 shares during the period. Toth Financial Advisory Corp increased its holdings in Elevance Health by 15.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 9,835 shares of the company’s stock valued at $5,114,000 after purchasing an additional 1,296 shares during the period. Finally, Border to Coast Pensions Partnership Ltd increased its holdings in Elevance Health by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 57,925 shares of the company’s stock valued at $30,033,000 after purchasing an additional 2,471 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELV. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. 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. Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Stock Performance

Shares of ELV opened at $389.58 on Tuesday. 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 business’s 50 day moving average price is $385.08 and its 200-day moving average price is $448.13. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The stock has a market cap of $90.35 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health, Inc. will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given 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 1.76%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is currently 25.46%.

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.