Elevance Health, Inc. (NYSE:ELV) Receives $509.44 Consensus Price Target from Brokerages

Elevance Health, Inc. (NYSE:ELV - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $510.38.

A number of research firms recently weighed in on ELV. Argus set a $465.00 target price on Elevance Health in a research report on Friday, April 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. StockNews.com raised shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Mizuho boosted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Baird R W cut Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $8,061,809.14. This represents a 19.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction that occurred on 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 transaction, the executive vice president now owns 10,116 shares of the company's stock, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,535 shares of company stock valued at $3,521,612. Corporate insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Accredited Wealth Management LLC bought a new stake in Elevance Health during the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the 4th quarter worth approximately $26,000. Riverview Trust Co lifted its position in Elevance Health by 1,340.0% in the 1st quarter. Riverview Trust Co now owns 72 shares of the company's stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in Elevance Health during the 4th quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Elevance Health in the fourth quarter worth $30,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $12.06 during trading on Tuesday, reaching $408.52. The company had a trading volume of 1,321,810 shares, compared to its average volume of 1,463,480. The company has a fifty day moving average of $421.60 and a two-hundred day moving average of $406.82. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $92.30 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. Elevance Health has a 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. The business had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. Equities research analysts forecast that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a yield of 1.67%. Elevance Health's payout ratio is 26.69%.

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.