Harbor Investment Advisory LLC Has $152,000 Holdings in Elevance Health, Inc. (NYSE:ELV)

Harbor Investment Advisory LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 76.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349 shares of the company's stock after selling 1,161 shares during the quarter. Harbor Investment Advisory LLC's holdings in Elevance Health were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accredited Wealth Management LLC purchased a new stake in Elevance Health during the 4th quarter worth $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter worth about $26,000. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter worth about $29,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health in the 4th quarter worth about $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Elevance Health Stock Performance

Elevance Health stock traded up $4.54 during midday trading on Thursday, reaching $384.61. 2,130,339 shares of the stock traded hands, compared to its average volume of 1,535,701. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $411.30 and a two-hundred day moving average price of $400.91. The firm has a market cap of $86.90 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.78%. Elevance Health's dividend payout ratio is currently 26.69%.

Analyst Ratings Changes

ELV has been the subject of several research analyst reports. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Argus set a $465.00 price objective on shares of Elevance Health in a research report on Friday, April 25th. Guggenheim reaffirmed a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Finally, Truist Financial boosted their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $499.53.

Elevance Health 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.