Elevance Health, Inc. (NYSE:ELV) Receives $517.03 Average PT from Analysts

Elevance Health, Inc. (NYSE:ELV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $517.03.

ELV has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. TD Cowen dropped their price objective on Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research note on Monday, October 21st. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Tuesday, February 4th. Argus reissued a "hold" rating and set a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Cypress Advisory Group LLC bought a new position in shares of Elevance Health in the fourth quarter worth $1,783,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Elevance Health in the fourth quarter worth $17,043,000. Keel Point LLC increased its position in shares of Elevance Health by 4.5% in the fourth quarter. Keel Point LLC now owns 1,254 shares of the company's stock worth $463,000 after purchasing an additional 54 shares during the period. Voleon Capital Management LP bought a new position in shares of Elevance Health in the fourth quarter worth $2,668,000. Finally, Utah Retirement Systems increased its position in shares of Elevance Health by 0.5% in the fourth quarter. Utah Retirement Systems now owns 38,650 shares of the company's stock worth $14,258,000 after purchasing an additional 200 shares during the period. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 0.5 %

NYSE ELV traded down $2.02 during trading on Thursday, hitting $389.58. The stock had a trading volume of 1,202,248 shares, compared to its average volume of 1,761,671. The company has a market capitalization of $90.35 billion, a PE ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. The company's 50-day moving average price is $385.08 and its two-hundred day moving average price is $448.71. 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 12 month low of $362.21 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts forecast that Elevance Health will post 34.05 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.76%. Elevance Health's dividend payout ratio (DPR) is presently 25.46%.

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.