Harfst & Associates Inc. Sells 139 Shares of Elevance Health, Inc. (NYSE:ELV)

Harfst & Associates Inc. reduced its position in Elevance Health, Inc. (NYSE:ELV) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,553 shares of the company’s stock after selling 139 shares during the quarter. Elevance Health comprises about 0.6% of Harfst & Associates Inc.’s holdings, making the stock its 28th biggest holding. Harfst & Associates Inc.’s holdings in Elevance Health were worth $2,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ELV. Richwood Investment Advisors LLC boosted its position in shares of Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after acquiring an additional 20 shares during the last quarter. Bell Investment Advisors Inc grew its stake in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after buying an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after buying an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. raised its position in shares of Elevance Health by 1.6% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after buying an additional 20 shares in the last quarter. Finally, American Trust lifted its holdings in shares of Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Baird R W raised Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Stephens restated an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a research report on Tuesday, June 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price target on shares of Elevance Health in a research report on Monday, August 19th. Finally, TD Cowen lowered their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $604.29.

Elevance Health Trading Up 0.9 %

Shares of Elevance Health stock traded up $4.80 during trading on Monday, reaching $556.89. 1,226,300 shares of the stock were exchanged, compared to its average volume of 1,017,117. Elevance Health, Inc. has a 1 year low of $431.38 and a 1 year high of $557.60. The firm has a market cap of $129.14 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $532.50 and its 200 day moving average is $525.31.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter last year, the business posted $9.04 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s payout ratio is currently 24.64%.

Insiders Place Their Bets

In other news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is currently owned by corporate insiders.

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.