Elevance Health, Inc. (NYSE:ELV) Receives $517.03 Consensus PT from Brokerages

Shares of Elevance Health, Inc. (NYSE:ELV - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $517.03.

A number of analysts have commented on ELV shares. Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company cut their price target on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Argus reiterated a "hold" rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th.

Elevance Health Stock Down 2.3 %

Shares of NYSE:ELV opened at $412.13 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health has a 52-week low of $362.21 and a 52-week high of $567.26. The business's 50 day simple moving average is $393.40 and its two-hundred day simple moving average is $431.42. The firm has a market cap of $93.70 billion, a P/E ratio of 16.09, a PEG ratio of 1.18 and a beta of 0.86.

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Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, research analysts forecast that Elevance Health will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $1.71 dividend. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health's dividend payout ratio (DPR) is 26.71%.

Insider Buying and Selling

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction 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 of the company's stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elevance Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company's stock worth $7,926,028,000 after acquiring an additional 138,380 shares during the last quarter. State Street Corp lifted its stake in Elevance Health by 1.2% during the third quarter. State Street Corp now owns 10,687,998 shares of the company's stock worth $5,557,759,000 after purchasing an additional 129,709 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Elevance Health by 4.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company's stock worth $3,917,004,000 after purchasing an additional 464,137 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Elevance Health by 42.5% in the 4th quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after purchasing an additional 1,893,947 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Elevance Health by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company's stock valued at $1,826,447,000 after purchasing an additional 115,971 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

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.

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