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

Elevance Health, Inc. (NYSE:ELV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $510.38.

Several research analysts recently weighed in on ELV shares. Mizuho increased their target price on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Robert W. Baird restated a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Guggenheim reissued a "buy" rating and set a $518.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd.

Elevance Health Trading Up 0.9%

NYSE:ELV traded up $3.46 during mid-day trading on Friday, reaching $375.73. The company's stock had a trading volume of 1,938,372 shares, compared to its average volume of 1,528,673. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market cap of $84.89 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.18 and a beta of 0.66. The company's fifty day simple moving average is $418.36 and its two-hundred day simple moving average is $402.34. Elevance Health has a twelve month low of $357.45 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.38% and a return on equity of 18.28%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. On average, equities analysts predict that Elevance Health will post 33.96 EPS for the current year.

Elevance Health Announces Dividend

The firm 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 dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is currently 26.69%.

Insider Activity at Elevance Health

In other news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now owns 1,847 shares of the company's stock, valued at approximately $766,745.11. The trade was a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 over the last ninety days. Corporate insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Elevance Health

Several large investors have recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC lifted its holdings in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after purchasing an additional 38 shares during the last quarter. OFI Invest Asset Management acquired a new position in Elevance Health during the 4th quarter valued at approximately $29,000. Finally, WealthTrak Capital Management LLC acquired a new position in Elevance Health during the 4th quarter valued at approximately $29,000. 89.24% of the stock is currently owned by 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.