Elevance Health (NYSE:ELV) Posts Earnings Results, Beats Estimates By $1.37 EPS

Elevance Health (NYSE:ELV - Get Free Report) announced its earnings results on Tuesday. The company reported $11.97 earnings per share for the quarter, topping the consensus estimate of $10.60 by $1.37, Zacks reports. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion.

Elevance Health Stock Down 4.4 %

Shares of NYSE:ELV opened at $405.68 on Tuesday. The stock has a market capitalization of $91.84 billion, a P/E ratio of 15.84, a PEG ratio of 1.18 and a beta of 0.77. 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 1 year low of $362.21 and a 1 year high of $567.26. The stock has a 50-day simple moving average of $417.18 and a 200-day simple moving average of $409.20.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, March 10th. This is an increase from Elevance Health's previous quarterly dividend of $1.63. Elevance Health's payout ratio is 26.71%.

Insiders Place Their Bets

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

ELV has been the subject of a number of analyst reports. Argus upgraded shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a research note on Monday, March 17th. Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Robert W. Baird reiterated a "neutral" rating and issued a $529.00 price target (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $508.81.

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.

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