Harvest Portfolios Group Inc. Has $63.81 Million Position in Elevance Health, Inc. $ELV

Harvest Portfolios Group Inc. lowered its holdings in Elevance Health, Inc. (NYSE:ELV) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 182,016 shares of the company’s stock after selling 8,805 shares during the quarter. Elevance Health comprises approximately 1.1% of Harvest Portfolios Group Inc.’s investment portfolio, making the stock its 25th largest holding. Harvest Portfolios Group Inc. owned about 0.08% of Elevance Health worth $63,806,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $5,941,000. Evergreen Wealth Management LLC raised its holdings in shares of Elevance Health by 33.5% in the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock valued at $5,584,000 after purchasing an additional 4,336 shares during the last quarter. Blume Capital Management Inc. raised its holdings in shares of Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after purchasing an additional 4,320 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Elevance Health by 31.1% in the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after purchasing an additional 109,462 shares during the last quarter. Finally, Caprock Group LLC purchased a new stake in shares of Elevance Health in the third quarter valued at about $1,638,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 2.1%

ELV opened at $402.32 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a market cap of $87.37 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.24 and a beta of 0.66. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $412.96. The company’s 50-day moving average price is $327.28 and its two-hundred day moving average price is $334.81.

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

Elevance Health Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Sanford C. Bernstein lifted their price target on Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Guggenheim lifted their price target on Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target on the stock. in a report on Tuesday, February 3rd. UBS Group set a $400.00 price target on Elevance Health in a report on Thursday, January 29th. Finally, Barclays lifted their price target on Elevance Health from $393.00 to $408.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $384.58.

About Elevance Health

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.