Harvest Portfolios Group Inc. Buys 57,463 Shares of Elevance Health, Inc. $ELV

Harvest Portfolios Group Inc. lifted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 43.1% in the third quarter, HoldingsChannel reports. The fund owned 190,821 shares of the company’s stock after acquiring an additional 57,463 shares during the period. Elevance Health makes up approximately 1.1% of Harvest Portfolios Group Inc.’s holdings, making the stock its 23rd largest holding. Harvest Portfolios Group Inc.’s holdings in Elevance Health were worth $61,658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its stake in shares of Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Activest Wealth Management lifted its stake in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 34 shares in the last quarter. Rossby Financial LCC boosted its holdings in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after buying an additional 44 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in Elevance Health by 94.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after buying an additional 37 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new stake in Elevance Health during the second quarter valued at about $32,000. Institutional investors own 89.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ELV. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Robert W. Baird increased their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. UBS Group set a $400.00 target price on shares of Elevance Health in a report on Thursday, January 29th. Mizuho set a $413.00 target price on shares of Elevance Health in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Price Performance

ELV stock opened at $320.65 on Friday. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The firm has a market capitalization of $70.77 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.50. The company has a fifty day simple moving average of $350.23 and a two-hundred day simple moving average of $335.40. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. During the same period in the prior year, the company earned $3.84 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.1%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is presently 27.23%.

Elevance Health Company 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.