Robert W. Baird Reiterates "Neutral" Rating for Elevance Health (NYSE:ELV)

Robert W. Baird restated their neutral rating on shares of Elevance Health (NYSE:ELV - Free Report) in a research note released on Tuesday, Marketbeat.com reports. They currently have a $529.00 price target on the stock, down from their prior price target of $625.00.

Several other research analysts also recently weighed in on ELV. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. StockNews.com upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Guggenheim began coverage on shares of Elevance Health in a research note on Wednesday, April 9th. They set a "buy" rating and a $518.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $508.81.

Elevance Health Stock Down 2.4 %

NYSE:ELV traded down $10.60 during midday trading on Tuesday, hitting $424.44. 3,569,359 shares of the company were exchanged, compared to its average volume of 1,444,131. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a market capitalization of $96.09 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a fifty day simple moving average of $416.77 and a 200 day simple moving average of $410.42.

Elevance Health (NYSE:ELV - Get Free Report) last announced 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 net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts anticipate that Elevance Health will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders 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 dividend yield of 1.61%. This is a boost from Elevance Health's previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health's dividend payout ratio is presently 26.71%.

Insiders Place Their Bets

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of Elevance Health 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 sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Institutional Trading of Elevance Health

Several institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in Elevance Health in the 4th quarter worth about $1,135,014,000. Wellington Management Group LLP lifted its holdings in 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 during the last quarter. GAMMA Investing LLC grew its holdings in Elevance Health by 81,726.5% during the first quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock valued at $641,355,000 after purchasing an additional 1,472,712 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Elevance Health by 6,817.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock worth $335,254,000 after buying an additional 895,658 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.

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.