Elevance Health, Inc. (NYSE:ELV) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,888 shares of the company’s stock after selling 169 shares during the quarter. Harbour Investments Inc.’s holdings in Elevance Health were worth $696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greatmark Investment Partners Inc. increased its stake in shares of Elevance Health by 24.3% in the 4th quarter. Greatmark Investment Partners Inc. now owns 23,928 shares of the company’s stock valued at $8,827,000 after purchasing an additional 4,678 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Intact Investment Management Inc. increased its stake in shares of Elevance Health by 135.8% during the fourth quarter. Intact Investment Management Inc. now owns 4,150 shares of the company’s stock worth $1,531,000 after purchasing an additional 2,390 shares in the last quarter. Alpine Woods Capital Investors LLC lifted its position in shares of Elevance Health by 14.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 5,832 shares of the company’s stock valued at $2,151,000 after acquiring an additional 750 shares in the last quarter. Finally, King Wealth Management Group lifted its holdings in Elevance Health by 9.0% in the 4th quarter. King Wealth Management Group now owns 3,043 shares of the company’s stock valued at $1,123,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Finally, Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $519.81.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Performance

NYSE ELV opened at $430.87 on Thursday. The company has a market cap of $97.96 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a 50-day moving average of $398.56 and a two-hundred day moving average of $427.12.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 return on equity of 18.28% and a net margin of 3.38%. As a group, analysts anticipate that Elevance Health, Inc. will post 33.96 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. Stockholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

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.