Elevance Health (NYSE:ELV) PT Raised to $621.00

Elevance Health (NYSE:ELV) had its price target boosted by Barclays from $584.00 to $621.00 in a research note released on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald reissued an overweight rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on Elevance Health from $561.00 to $557.00 and set an overweight rating on the stock in a research report on Monday, April 8th. StockNews.com lowered Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Jefferies Financial Group lifted their target price on Elevance Health from $602.00 to $604.00 and gave the company a buy rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $583.77.

Elevance Health Trading Up 1.2 %

NYSE ELV opened at $531.59 on Friday. The firm has a market cap of $123.70 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.12 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s 50-day moving average is $509.14 and its 200-day moving average is $483.22. Elevance Health has a one year low of $412.00 and a one year high of $539.11.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm earned $9.46 EPS. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts anticipate that Elevance Health will post 37.03 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is currently 25.90%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred 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 directly owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after purchasing an additional 9,199 shares during the period. Chicago Capital LLC boosted its stake in Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after purchasing an additional 4,986 shares during the period. Lecap Asset Management Ltd. bought a new stake in Elevance Health in the 4th quarter valued at $2,235,000. International Assets Investment Management LLC boosted its stake in Elevance Health by 45,888.1% in the 4th quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares during the period. Finally, Avitas Wealth Management LLC bought a new stake in Elevance Health in the 4th quarter valued at $2,137,000. 89.24% of the stock is currently owned by institutional investors.

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.