Hara Capital LLC Invests $3.75 Million in Elevance Health, Inc. $ELV

Hara Capital LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 9,705 shares of the company’s stock, valued at approximately $3,753,000. Elevance Health accounts for approximately 2.0% of Hara Capital LLC’s portfolio, making the stock its 12th largest position.

Other hedge funds have also recently bought and sold shares of the company. Advisors Capital Management LLC acquired a new stake in shares of Elevance Health in the second quarter worth $404,000. PCM Encore LLC acquired a new position in shares of Elevance Health during the 2nd quarter valued at $594,000. Trillium Asset Management LLC acquired a new position in shares of Elevance Health during the 2nd quarter valued at $8,064,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Elevance Health during the 2nd quarter worth $701,000. Finally, E Fund Management Co. Ltd. purchased a new stake in Elevance Health during the 2nd quarter worth $614,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the topic of several research reports. Leerink Partners raised their price objective on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Barclays decreased their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating for the company in a research report on Thursday, July 16th. TD Cowen increased their target price on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Robert W. Baird raised their target price on Elevance Health from $331.00 to $393.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $440.90.

Elevance Health Stock Down 0.3%

Shares of NYSE ELV opened at $397.15 on Friday. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The firm has a market cap of $86.13 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50-day simple moving average is $394.82 and its 200-day simple moving average is $359.63.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.84 earnings per share. As a group, equities analysts anticipate that Elevance Health, Inc. will post 27.07 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s payout ratio is currently 30.58%.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

About Elevance Health

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.