Harvest Fund Management Co. Ltd Has $99,000 Stock Holdings in Elevance Health, Inc. (NYSE:ELV)

Harvest Fund Management Co. Ltd lessened its position in shares of Elevance Health, Inc. (NYSE:ELV) by 50.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209 shares of the company’s stock after selling 217 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Elevance Health were worth $99,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Elevance Health by 45,888.1% during the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after acquiring an additional 255,138 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Elevance Health by 212.7% during the third quarter. Assenagon Asset Management S.A. now owns 366,833 shares of the company’s stock worth $159,726,000 after buying an additional 249,533 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Elevance Health by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 640,905 shares of the company’s stock worth $279,063,000 after buying an additional 234,439 shares during the period. Schroder Investment Management Group increased its stake in shares of Elevance Health by 18.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,330,883 shares of the company’s stock valued at $579,493,000 after acquiring an additional 204,715 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Elevance Health by 59.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 491,504 shares of the company’s stock valued at $214,011,000 after acquiring an additional 182,889 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Up 1.1 %

Shares of NYSE ELV opened at $539.70 on Friday. The company’s 50 day moving average price is $511.40 and its 200-day moving average price is $485.81. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The company has a market capitalization of $125.44 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.46 EPS. Equities analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Activity

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the subject of a number of research reports. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Company 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.