Clear Harbor Asset Management LLC Grows Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Clear Harbor Asset Management LLC raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 18.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,233 shares of the company’s stock after buying an additional 193 shares during the period. Clear Harbor Asset Management LLC’s holdings in Elevance Health were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ELV. Archford Capital Strategies LLC boosted its position in shares of Elevance Health by 2.3% in the second quarter. Archford Capital Strategies LLC now owns 3,355 shares of the company’s stock worth $1,818,000 after purchasing an additional 75 shares during the period. Forza Wealth Management LLC bought a new position in shares of Elevance Health during the second quarter worth $204,000. Leavell Investment Management Inc. boosted its position in shares of Elevance Health by 1.8% during the second quarter. Leavell Investment Management Inc. now owns 5,965 shares of the company’s stock worth $3,232,000 after acquiring an additional 105 shares during the last quarter. Hengehold Capital Management LLC boosted its position in shares of Elevance Health by 3.5% during the second quarter. Hengehold Capital Management LLC now owns 1,054 shares of the company’s stock worth $571,000 after acquiring an additional 36 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its position in shares of Elevance Health by 55.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 11,037 shares of the company’s stock worth $5,980,000 after acquiring an additional 3,939 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the company’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 sale, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,058 shares of company stock valued at $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELV shares. Truist Financial increased their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Bank of America reissued a “neutral” rating and issued a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Morgan Stanley assumed coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health currently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Up 0.7 %

NYSE:ELV traded up $3.56 during mid-day trading on Friday, hitting $545.28. The stock had a trading volume of 383,285 shares, compared to its average volume of 1,040,867. The company has a market capitalization of $126.73 billion, a PE ratio of 20.48, a PEG ratio of 1.18 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $431.38 and a twelve month high of $555.35. 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 stock has a 50-day simple moving average of $529.69 and a two-hundred day simple moving average of $521.17.

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

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 10th. 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.