749 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC bought a new position in Elevance Health, Inc. (NYSE:ELVFree Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 749 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds have also modified their holdings of the company. Sanders Capital LLC raised its holdings in Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after buying an additional 58,013 shares during the period. Alliancebernstein L.P. raised its holdings in Elevance Health by 13.1% in the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock valued at $1,428,243,000 after buying an additional 372,937 shares during the period. Nuveen Asset Management LLC raised its holdings in Elevance Health by 1.8% in the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock valued at $1,396,583,000 after buying an additional 56,204 shares during the period. Morgan Stanley raised its holdings in Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after buying an additional 46,322 shares during the period. Finally, Norges Bank purchased a new position in Elevance Health in the fourth quarter valued at approximately $1,253,211,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on ELV shares. Royal Bank of Canada raised their price target on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays began coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price objective on shares of Elevance Health from $547.00 to $580.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $569.36.

Read Our Latest Research Report on ELV

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $518.54 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $502.12 and a 200 day simple moving average of $476.06. The firm has a market cap of $120.66 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $521.18.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The business had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.23 earnings per share. On average, equities research analysts anticipate that Elevance Health, Inc. will post 37.15 EPS for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s payout ratio is currently 25.90%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Elevance Health Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elevance Health (NYSE:ELV)

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