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

Harvest Portfolios Group Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 43.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 190,821 shares of the company’s stock after purchasing 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 position. Harvest Portfolios Group Inc. owned approximately 0.09% of Elevance Health worth $61,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nilsine Partners LLC grew its stake in shares of Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in Elevance Health by 4.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after purchasing an additional 31 shares in the last quarter. Detalus Advisors LLC lifted its stake in shares of Elevance Health by 1.8% in the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after buying an additional 31 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of Elevance Health by 1.1% during the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock valued at $960,000 after buying an additional 33 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in Elevance Health by 66.7% in the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

NYSE ELV opened at $320.65 on Friday. The company has a 50-day moving average price of $350.23 and a 200-day moving average price of $335.40. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $70.77 billion, a P/E ratio of 12.76, a PEG ratio of 1.79 and a beta of 0.50.

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

Elevance Health Increases Dividend

The firm also recently disclosed 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. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is presently 27.23%.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective for the company. in a report on Tuesday, February 3rd. Mizuho set a $413.00 target price on Elevance Health in a research report on Friday, January 9th. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Finally, Leerink Partners boosted their price objective on shares of Elevance Health from $350.00 to $357.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $390.55.

Elevance Health 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.