Harbor Asset Planning Inc. Takes Position in Elevance Health, Inc. $ELV

Harbor Asset Planning Inc. bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 276 shares of the company’s stock, valued at approximately $107,000.

Other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC lifted its position in shares of Elevance Health by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after acquiring an additional 790 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Elevance Health during the 1st quarter worth $299,000. Dynamic Advisor Solutions LLC lifted its position in shares of Elevance Health by 11.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,034 shares of the company’s stock worth $3,125,000 after buying an additional 817 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Elevance Health by 4.6% during the 1st quarter. Focus Partners Wealth now owns 22,446 shares of the company’s stock worth $9,764,000 after buying an additional 982 shares during the last quarter. Finally, Asio Capital LLC lifted its position in shares of Elevance Health by 7.1% during the 2nd quarter. Asio Capital LLC now owns 15,371 shares of the company’s stock worth $5,979,000 after buying an additional 1,015 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ELV has been the subject of several recent analyst reports. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on Elevance Health from $472.00 to $384.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. UBS Group dropped their price objective on Elevance Health from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Wells Fargo & Company upped their price objective on Elevance Health from $330.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Barclays upped their price objective on Elevance Health from $373.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $408.33.

Elevance Health Price Performance

Elevance Health stock opened at $348.14 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $78.39 billion, a PE ratio of 14.81, a P/E/G ratio of 1.28 and a beta of 0.59. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The stock has a 50-day moving average price of $320.85 and a two-hundred day moving average price of $356.90.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion during the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. Elevance Health’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.12 earnings per share. Analysts expect that Elevance Health, Inc. will post 33.96 EPS for the current year.

Insider Buying and Selling at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares in the company, valued at approximately $1,093,149.30. This represents a 52.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.29% of the company’s stock.

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.