Elevance Health (NYSE:ELV) PT Raised to $604.00

Elevance Health (NYSE:ELV) had its target price raised by Jefferies Financial Group from $602.00 to $604.00 in a report published on Friday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $561.00 to $557.00 and set an overweight rating on the stock in a research report on Monday, April 8th. Barclays initiated coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They issued an overweight rating and a $584.00 price objective on the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $587.64.

Elevance Health Stock Up 1.2 %

Shares of NYSE:ELV opened at $531.42 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.44 and a debt-to-equity ratio of 0.54. Elevance Health has a 12 month low of $412.00 and a 12 month high of $539.11. The company has a market cap of $123.66 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.16 and a beta of 0.78. The company has a 50-day moving average price of $509.14 and a 200 day moving average price of $483.89.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the company posted $9.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Elevance Health

Institutional investors have recently bought and sold shares of the company. Fortis Capital Advisors LLC acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. TD Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth $30,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Elevance Health during the fourth quarter worth $28,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the third quarter worth $25,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Elevance Health during the first quarter worth $32,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.