Harbor Investment Advisory LLC Reduces Holdings in Elevance Health, Inc. (NYSE:ELV)

Harbor Investment Advisory LLC trimmed its stake in Elevance Health, Inc. (NYSE:ELV) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,897 shares of the company’s stock after selling 33 shares during the period. Harbor Investment Advisory LLC’s holdings in Elevance Health were worth $986,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Bell Investment Advisors Inc grew its position in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. grew its position in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after buying an additional 20 shares during the last quarter. American Trust grew its position in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its position in shares of Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after buying an additional 21 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elevance Health

In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,058 shares of company stock valued at $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research note on Tuesday, October 1st. Royal Bank of Canada increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Stephens reiterated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Thursday, September 5th. Finally, Barclays decreased their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Buy” and a consensus price target of $604.29.

Elevance Health Trading Down 1.2 %

Shares of ELV opened at $492.07 on Friday. Elevance Health, Inc. has a twelve month low of $435.31 and a twelve month high of $567.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $114.37 billion, a P/E ratio of 18.60, a PEG ratio of 1.17 and a beta of 0.82. The firm’s 50-day moving average is $535.87 and its two-hundred day moving average is $529.80.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same period last year, the company posted $9.04 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.33%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.