First Horizon Advisors Inc. Has $263,000 Stake in Elevance Health, Inc. (NYSE:ELV)

First Horizon Advisors Inc. lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 16.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 714 shares of the company’s stock after selling 140 shares during the quarter. First Horizon Advisors Inc.’s holdings in Elevance Health were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health in the third quarter valued at approximately $26,000. Dunhill Financial LLC raised its holdings in 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 in the last quarter. Peterson Financial Group Inc. acquired a new position in Elevance Health in the 3rd quarter valued at $44,000. Crews Bank & Trust bought a new stake in shares of Elevance Health during the 4th quarter valued at $34,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth $52,000. 89.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a 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 research report on Tuesday, January 28th. Mizuho decreased their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

ELV stock opened at $402.95 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The business has a 50-day simple moving average of $386.22 and a two-hundred day simple moving average of $441.32. The company has a market capitalization of $91.61 billion, a P/E ratio of 15.73, a price-to-earnings-growth 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.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (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%. Research analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.70%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio is currently 26.71%.

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.