FSM Wealth Advisors LLC Has $303,000 Position in Elevance Health, Inc. (NYSE:ELV)

FSM Wealth Advisors LLC boosted its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 12.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697 shares of the company’s stock after buying an additional 77 shares during the period. FSM Wealth Advisors LLC’s holdings in Elevance Health were worth $303,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ELV. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $26,000. Riverview Trust Co raised its stake in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $30,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Price Performance

NYSE ELV opened at $350.34 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market cap of $79.15 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. Elevance Health, Inc. has a 52 week low of $349.62 and a 52 week high of $567.26. The firm’s 50-day simple moving average is $390.70 and its two-hundred day simple moving average is $398.48.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The company had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were paid a $1.71 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.95%. Elevance Health’s dividend payout ratio is currently 26.69%.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares of the company’s stock, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ELV shares. Royal Bank Of Canada restated an “outperform” rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Truist Financial set a $500.00 target price on shares of Elevance Health and gave the company a “buy” rating in a report on Monday, June 9th. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Guggenheim reaffirmed a “buy” rating and issued a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Mizuho lifted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $498.87.

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.