Elevance Health (NYSE:ELV) PT Raised to $575.00

Elevance Health (NYSE:ELV) had its price objective increased by Royal Bank of Canada from $574.00 to $575.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

ELV has been the topic of a number of other research reports. UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a buy rating in a research note on Friday. Truist Financial reiterated a buy rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research note on Friday. Barclays increased their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an overweight rating in a research report on Friday. Finally, Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a buy rating in a research report on Friday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $587.64.

Elevance Health Trading Up 0.1 %

Shares of Elevance Health stock opened at $532.17 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health has a 12-month low of $412.00 and a 12-month high of $539.11. The firm has a market capitalization of $123.69 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.16 and a beta of 0.78. The firm’s 50 day simple moving average is $509.68 and its two-hundred day simple moving average is $484.51.

Elevance Health (NYSE:ELV) last issued its quarterly 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. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.46 EPS. Analysts predict that Elevance Health will post 37.24 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently modified their holdings of ELV. AE Wealth Management LLC lifted its stake in shares of Elevance Health by 4.9% in the third quarter. AE Wealth Management LLC now owns 19,176 shares of the company’s stock worth $8,350,000 after buying an additional 891 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in Elevance Health by 14.1% during 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 period. IFP Advisors Inc raised its stake in Elevance Health by 106.9% during the third quarter. IFP Advisors Inc now owns 2,683 shares of the company’s stock worth $1,168,000 after purchasing an additional 1,386 shares during the period. Janiczek Wealth Management LLC raised its stake in Elevance Health by 21.8% during the third quarter. Janiczek Wealth Management LLC now owns 442 shares of the company’s stock worth $192,000 after purchasing an additional 79 shares during the period. Finally, OneAscent Wealth Management LLC purchased a new position in Elevance Health during the third quarter worth about $267,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Company 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.