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

Fort Washington Investment Advisors Inc. OH reduced its stake in Elevance Health, Inc. (NYSE:ELV) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors and hedge funds have also bought and sold shares of the company. Raelipskie Partnership purchased a new stake in Elevance Health in the third quarter valued at approximately $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank bought a new position in Elevance Health during the third quarter valued at approximately $31,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Elevance Health during the third quarter valued at approximately $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Stock Performance

NYSE:ELV opened at $401.20 on Friday. The stock has a market cap of $93.05 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.10 and a beta of 0.84. The firm’s fifty day simple moving average is $386.32 and its 200 day simple moving average is $463.64. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

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

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.70%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Analyst Ratings Changes

ELV has been the topic of a number of recent research reports. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Finally, Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $524.87.

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.