FSM Wealth Advisors LLC Has $328,000 Holdings in Elevance Health, Inc. $ELV

FSM Wealth Advisors LLC grew its holdings in Elevance Health, Inc. (NYSE:ELV) by 20.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 842 shares of the company’s stock after buying an additional 145 shares during the period. FSM Wealth Advisors LLC’s holdings in Elevance Health were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Private Wealth Management Group LLC raised its stake in Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. WPG Advisers LLC acquired a new position in shares of Elevance Health in the first quarter valued at $29,000. North Capital Inc. bought a new position in shares of Elevance Health in the first quarter valued at about $36,000. Saudi Central Bank acquired a new stake in shares of Elevance Health during the 1st quarter worth about $40,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Elevance Health during the 1st quarter worth about $43,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Performance

ELV opened at $346.36 on Friday. 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 firm has a market cap 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. The business’s fifty day moving average is $326.42 and its 200-day moving average is $353.99.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. The business had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. Elevance Health’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.37 earnings per share. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

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

Insider Transactions at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost 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 trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ELV has been the topic of several research analyst reports. Cowen reissued a “buy” rating on shares of Elevance Health in a report on Thursday. JPMorgan Chase & Co. decreased their target price on Elevance Health from $472.00 to $384.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Wells Fargo & Company reduced their price target on Elevance Health from $412.00 to $403.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Guggenheim increased their price objective on Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.89.

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.