Forvis Mazars Wealth Advisors LLC Increases Stock Position in Elevance Health, Inc. $ELV

Forvis Mazars Wealth Advisors LLC grew its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.6% during the second quarter, HoldingsChannel.com reports. The fund owned 8,036 shares of the company’s stock after buying an additional 47 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Elevance Health were worth $3,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Wealth Management Group LLC boosted its holdings in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock worth $27,000 after buying an additional 38 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of Elevance Health in the first quarter worth approximately $29,000. North Capital Inc. purchased a new position in shares of Elevance Health in the first quarter worth approximately $36,000. Saudi Central Bank purchased a new position in shares of Elevance Health in the first quarter worth approximately $40,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Elevance Health in the first quarter worth approximately $43,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ELV. The Goldman Sachs Group began coverage on shares of Elevance Health in a report on Tuesday. They issued a “neutral” rating and a $343.00 price objective on the stock. Mizuho raised their target price on shares of Elevance Health from $342.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Truist Financial set a $400.00 target price on shares of Elevance Health in a research note on Tuesday. UBS Group decreased their target price on shares of Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, September 5th. Finally, Guggenheim raised their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $404.72.

Elevance Health Trading Up 0.2%

Elevance Health stock opened at $348.93 on Friday. The stock has a market cap of $78.57 billion, a P/E ratio of 14.85, a PEG ratio of 1.27 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The firm’s 50 day moving average price is $321.94 and its 200-day moving average price is $355.81.

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

Insider Activity

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

Elevance Health 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.