Elevance Health (NYSE:ELV) Hits New 12-Month High at $502.14

Elevance Health, Inc. (NYSE:ELVGet Free Report)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $502.14 and last traded at $501.25, with a volume of 234118 shares traded. The stock had previously closed at $493.83.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent analyst reports. Royal Bank of Canada upped their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered their target price on Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a research report on Friday, November 17th. Finally, Morgan Stanley increased their target price on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research report on Thursday, October 19th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $564.60.

Read Our Latest Stock Report on Elevance Health

Elevance Health Stock Performance

The company has a market capitalization of $116.82 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.10 and a beta of 0.78. The business has a 50-day moving average of $477.40 and a 200-day moving average of $464.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.41.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The company had revenue of $42.45 billion during the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. Elevance Health’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $5.23 earnings per share. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 37.14 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be paid a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.31%. Elevance Health’s dividend payout ratio (DPR) is presently 23.52%.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently bought and sold shares of ELV. Roundview Capital LLC increased its stake in Elevance Health by 2.9% in the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after purchasing an additional 52 shares during the period. Moors & Cabot Inc. purchased a new position in shares of Elevance Health during the first quarter valued at $251,000. Baird Financial Group Inc. increased its stake in shares of Elevance Health by 0.4% during the first quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after buying an additional 57 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Elevance Health by 52.1% during the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after buying an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Elevance Health by 102.9% during the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after buying an additional 429 shares during the period. Hedge funds and other institutional investors own 87.80% of the company’s stock.

About Elevance Health

(Get Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

See Also

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.