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

First Horizon Advisors Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Elevance Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP increased its holdings in Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock valued at $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock valued at $1,246,574,000 after buying an additional 334,552 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $402.95 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company’s fifty day simple moving average is $386.22 and its 200 day simple moving average is $441.32. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a market cap of $91.61 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed 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 represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Barclays increased their price target on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Argus reiterated a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $517.03.

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.