Elevance Health (NYSE:ELV) Sets New 52-Week High at $543.80

Elevance Health, Inc. (NYSE:ELV - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $543.80 and last traded at $542.72, with a volume of 92645 shares traded. The stock had previously closed at $539.99.

Analysts Set New Price Targets

ELV has been the topic of several analyst reports. Royal Bank of Canada increased their target price on shares of Elevance Health from $574.00 to $575.00 and gave the stock an "outperform" rating in a research report on Friday, April 19th. Wells Fargo & Company increased their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Truist Financial reissued a "buy" rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $587.42.

Elevance Health Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm's 50-day moving average price is $518.83 and its two-hundred day moving average price is $493.67. The firm has a market capitalization of $126.41 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter last year, the company earned $9.46 EPS. Elevance Health's revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Elevance Health, Inc. will post 37.26 earnings per share 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 paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health's dividend payout ratio is currently 24.64%.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Institutional Trading of Elevance Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Palisade Asset Management LLC bought a new position in Elevance Health in the first quarter valued at about $28,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health during the fourth quarter worth about $28,000. OFI Invest Asset Management bought a new position in Elevance Health during the third quarter worth about $25,000. Register Financial Advisors LLC bought a new position in Elevance Health during the first quarter worth about $32,000. Finally, Alaska Permanent Fund Corp bought a new position in Elevance Health during the fourth quarter worth about $31,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.