Granite Harbor Advisors Inc. Sells 66 Shares of Elevance Health, Inc. $ELV

Granite Harbor Advisors Inc. trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,189 shares of the company’s stock after selling 66 shares during the period. Granite Harbor Advisors Inc.’s holdings in Elevance Health were worth $1,629,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC raised its stake in shares of Elevance Health by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares during the period. Dynamic Advisor Solutions LLC raised its stake in Elevance Health by 11.3% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock valued at $3,125,000 after acquiring an additional 817 shares during the period. Focus Partners Wealth raised its stake in Elevance Health by 4.6% in the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock valued at $9,764,000 after acquiring an additional 982 shares during the period. Asio Capital LLC raised its stake in Elevance Health by 7.1% in the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock valued at $5,979,000 after acquiring an additional 1,015 shares during the period. Finally, GAMMA Investing LLC raised its stake in Elevance Health by 88.1% in the 1st quarter. GAMMA Investing LLC now owns 3,390 shares of the company’s stock valued at $1,475,000 after acquiring an additional 1,588 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Insider Activity at Elevance Health

In other news, Director Susan D. Devore acquired 1,200 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the acquisition, the director owned 3,502 shares in the company, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ELV shares. Morgan Stanley boosted their price objective on Elevance Health from $316.00 to $359.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 14th. Robert W. Baird decreased their price target on Elevance Health from $492.00 to $297.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. UBS Group decreased their price target on Elevance Health from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Bank of America upped their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, Leerink Partners reiterated a “market perform” rating and set a $310.00 price target (down from $510.00) on shares of Elevance Health in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $398.94.

Elevance Health Stock Down 1.4%

Shares of ELV opened at $344.88 on Thursday. The firm has a market cap of $77.66 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.28 and a beta of 0.59. The stock has a 50 day simple moving average of $325.40 and a two-hundred day simple moving average of $354.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a return on equity of 16.31% and a net margin of 2.84%.The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the previous year, the company posted $8.37 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s payout ratio is presently 29.11%.

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.