Harvest Portfolios Group Inc. Trims Stock Holdings in Elevance Health, Inc. $ELV

Harvest Portfolios Group Inc. trimmed its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 182,016 shares of the company’s stock after selling 8,805 shares during the quarter. Elevance Health accounts for approximately 1.1% of Harvest Portfolios Group Inc.’s investment portfolio, making the stock its 25th biggest holding. Harvest Portfolios Group Inc.’s holdings in Elevance Health were worth $63,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sound View Wealth Advisors Group LLC increased its position in shares of Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock valued at $354,000 after buying an additional 29 shares during the period. Fulton Breakefield Broenniman LLC boosted its holdings in shares of Elevance Health by 3.6% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after purchasing an additional 29 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of Elevance Health by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock worth $481,000 after purchasing an additional 29 shares in the last quarter. Savvy Advisors Inc. grew its holdings in shares of Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the last quarter. Finally, Detalus Advisors LLC grew its holdings in shares of Elevance Health by 1.8% during the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after purchasing an additional 31 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 2.1%

Shares of ELV stock opened at $402.32 on Wednesday. The firm’s 50 day moving average is $327.28 and its 200 day moving average is $334.81. The stock has a market capitalization of $87.37 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.24 and a beta of 0.66. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $412.96. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts expect that Elevance Health, Inc. will post 26.8 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be paid a $1.72 dividend. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio is 29.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Guggenheim lifted their price target on Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Barclays lifted their price objective on Elevance Health from $393.00 to $408.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. The Goldman Sachs Group upped their target price on shares of Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Sanford C. Bernstein raised their price objective on Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Thirteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $384.58.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.