Elevance Health, Inc. (NYSE:ELV) Receives $569.00 Average PT from Brokerages

Shares of Elevance Health, Inc. (NYSE:ELV) have been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $587.64.

A number of research analysts have commented on ELV shares. Wells Fargo & Company upped their price objective on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. UBS Group increased their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th.

Elevance Health Price Performance

Shares of NYSE ELV opened at $532.92 on Friday. Elevance Health has a twelve month low of $412.00 and a twelve month high of $539.11. The company has a market cap of $123.86 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The business’s 50 day moving average price is $510.23 and its two-hundred day moving average price is $485.10. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last released its quarterly earnings results 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the firm earned $9.46 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, analysts predict that Elevance Health will post 37.24 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Elevance Health

Hedge funds have recently added to or reduced their stakes in the stock. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Elevance Health during the 3rd quarter valued at $30,000. AE Wealth Management LLC raised its stake in shares of Elevance Health by 4.9% during the third quarter. AE Wealth Management LLC now owns 19,176 shares of the company’s stock valued at $8,350,000 after acquiring an additional 891 shares during the last quarter. Ronald Blue Trust Inc. lifted its holdings in shares of Elevance Health by 53.5% during the third quarter. Ronald Blue Trust Inc. now owns 987 shares of the company’s stock worth $439,000 after purchasing an additional 344 shares during the period. Wealthcare Advisory Partners LLC grew its stake in shares of Elevance Health by 14.1% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,194 shares of the company’s stock worth $520,000 after purchasing an additional 148 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Elevance Health by 106.9% in the third quarter. IFP Advisors Inc now owns 2,683 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,386 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

About Elevance Health

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.