Wolfe Research Estimates Elevance Health FY2029 Earnings

Elevance Health, Inc. (NYSE:ELV - Free Report) - Equities researchers at Wolfe Research issued their FY2029 EPS estimates for shares of Elevance Health in a note issued to investors on Monday, March 31st. Wolfe Research analyst J. Lake forecasts that the company will post earnings of $61.16 per share for the year. The consensus estimate for Elevance Health's current full-year earnings is $33.96 per share.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%.

A number of other research analysts have also issued reports on the stock. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a report on Monday, January 6th. Stephens lowered shares of Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Barclays upped their price target on Elevance Health from $501.00 to $512.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $519.81.

Elevance Health Trading Up 1.9 %

Elevance Health stock traded up $7.86 during trading hours on Thursday, hitting $431.00. The stock had a trading volume of 1,700,112 shares, compared to its average volume of 1,423,724. The business's 50 day simple moving average is $408.94 and its 200-day simple moving average is $415.71. Elevance Health has a one year low of $362.21 and a one year high of $567.26. The stock has a market cap of $97.57 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ELV. Raelipskie Partnership acquired a new position in shares of Elevance Health during the third quarter valued at about $26,000. Accredited Wealth Management LLC acquired a new position in Elevance Health during the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new stake in Elevance Health during the 4th quarter worth approximately $26,000. Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Finally, WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 10,116 shares of the company's stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company's stock.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Elevance Health's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.59%. Elevance Health's dividend payout ratio is currently 26.71%.

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.