Harfst & Associates Inc. Sells 3,981 Shares of Elevance Health, Inc. (NYSE:ELV)

Harfst & Associates Inc. decreased its holdings in Elevance Health, Inc. (NYSE:ELV) by 81.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 913 shares of the company’s stock after selling 3,981 shares during the quarter. Harfst & Associates Inc.’s holdings in Elevance Health were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Convergence Financial LLC boosted its position in Elevance Health by 15.5% during the fourth quarter. Convergence Financial LLC now owns 1,271 shares of the company’s stock valued at $469,000 after acquiring an additional 171 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Elevance Health by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,710 shares of the company’s stock valued at $1,000,000 after acquiring an additional 119 shares during the last quarter. Impact Investors Inc bought a new stake in Elevance Health during the fourth quarter valued at $568,000. Sabal Trust CO boosted its position in Elevance Health by 16.6% during the fourth quarter. Sabal Trust CO now owns 5,090 shares of the company’s stock valued at $1,878,000 after acquiring an additional 723 shares during the last quarter. Finally, National Pension Service boosted its position in Elevance Health by 4.1% during the fourth quarter. National Pension Service now owns 493,614 shares of the company’s stock valued at $182,094,000 after acquiring an additional 19,542 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ELV. StockNews.com cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Mizuho cut their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Argus restated a “hold” rating and issued a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Trading Down 3.9 %

NYSE:ELV opened at $386.22 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market cap of $87.81 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm has a 50-day moving average price of $386.62 and a two-hundred day moving average price of $440.93.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, equities analysts expect 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 Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

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.