Elevance Health, Inc. (NYSE:ELV) Given Average Rating of "Moderate Buy" by Analysts

Shares of Elevance Health, Inc. (NYSE:ELV - Get Free Report) have received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $498.87.

A number of equities analysts have weighed in on the stock. Mizuho upped their price objective on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Royal Bank Of Canada restated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research report on Wednesday, June 4th. Guggenheim restated a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Truist Financial set a $500.00 price objective on shares of Elevance Health and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd.

Insider Buying and Selling

In related news, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the sale, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Elevance Health by 16.4% during the fourth quarter. Van ECK Associates Corp now owns 14,884 shares of the company's stock valued at $5,491,000 after acquiring an additional 2,102 shares during the last quarter. Allworth Financial LP increased its position in shares of Elevance Health by 103.9% during the fourth quarter. Allworth Financial LP now owns 2,688 shares of the company's stock valued at $1,050,000 after acquiring an additional 1,370 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Elevance Health by 4.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,383 shares of the company's stock valued at $510,000 after acquiring an additional 58 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Elevance Health by 20.4% during the fourth quarter. CIBC Asset Management Inc now owns 40,935 shares of the company's stock valued at $15,101,000 after acquiring an additional 6,923 shares during the last quarter. Finally, Valley Wealth Managers Inc. increased its position in shares of Elevance Health by 7.6% during the fourth quarter. Valley Wealth Managers Inc. now owns 40,349 shares of the company's stock valued at $14,885,000 after acquiring an additional 2,846 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE:ELV opened at $375.13 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $84.75 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60. The company has a 50 day moving average price of $402.42 and a 200-day moving average price of $399.76. Elevance Health has a 1-year low of $357.45 and a 1-year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. Equities research analysts forecast that Elevance Health will post 33.96 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, June 10th. Elevance Health's payout ratio is currently 26.69%.

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.

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