Fort Washington Investment Advisors Inc. OH Lowers Holdings in Elevance Health, Inc. (NYSE:ELV)

Fort Washington Investment Advisors Inc. OH lessened its stake in Elevance Health, Inc. (NYSE:ELV) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,499 shares of the company’s stock after selling 675 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Elevance Health were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Raelipskie Partnership purchased a new position in shares of Elevance Health in the 3rd quarter worth about $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health in the 3rd quarter worth about $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth about $31,000. Dunhill Financial LLC raised its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in shares of Elevance Health in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 2.7 %

Shares of NYSE:ELV opened at $401.20 on Friday. The stock has a 50 day moving average of $386.32 and a 200 day moving average of $463.64. The company has a market cap of $93.05 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.10 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, equities research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a $1.71 dividend. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. Elevance Health’s payout ratio is currently 23.77%.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $440.00 in a research report on Wednesday. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. UBS Group decreased their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average target price of $524.87.

About Elevance Health

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.