Elevance Health, Inc. (NYSE:ELV) Receives $510.38 Average Price Target from Brokerages

Elevance Health, Inc. (NYSE:ELV - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $510.38.

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Guggenheim reiterated a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd.

Elevance Health Stock Up 0.5%

ELV stock traded up $2.04 during trading on Friday, hitting $379.99. 1,629,200 shares of the company's stock were exchanged, compared to its average volume of 1,532,088. The business has a 50-day moving average price of $415.24 and a two-hundred day moving average price of $401.68. The stock has a market capitalization of $85.85 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.18 and a beta of 0.66. Elevance Health has a 52-week low of $357.45 and a 52-week high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71.

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, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. As a group, equities research analysts expect that Elevance Health will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.80%. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the sale, the chief financial officer now owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,535 shares of company stock worth $3,521,612. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elevance Health

Hedge funds have recently bought and sold shares of the business. Mutual Advisors LLC grew its position in shares of Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company's stock worth $833,000 after acquiring an additional 52 shares in the last quarter. JB Capital LLC grew its position in shares of Elevance Health by 597.2% in the 4th quarter. JB Capital LLC now owns 9,384 shares of the company's stock worth $3,462,000 after acquiring an additional 8,038 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Elevance Health by 82.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 720,367 shares of the company's stock worth $276,073,000 after acquiring an additional 326,543 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE grew its position in shares of Elevance Health by 15.8% in the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 32,088 shares of the company's stock worth $11,837,000 after acquiring an additional 4,372 shares in the last quarter. Finally, VELA Investment Management LLC grew its position in shares of Elevance Health by 101.6% in the 4th quarter. VELA Investment Management LLC now owns 2,074 shares of the company's stock worth $765,000 after acquiring an additional 1,045 shares in the last quarter. 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.