Elevance Health (NYSE:ELV) Releases Earnings Results, Beats Expectations By $0.10 EPS

Elevance Health (NYSE:ELV) posted its quarterly earnings data on Thursday. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10, Briefing.com reports. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the business earned $9.46 EPS. Elevance Health’s revenue was up .9% compared to the same quarter last year.

Elevance Health Trading Up 3.2 %

Shares of NYSE ELV opened at $525.19 on Friday. Elevance Health has a 1 year low of $412.00 and a 1 year high of $539.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $122.21 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. The firm has a 50-day moving average of $508.63 and a 200 day moving average of $482.59.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.63 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $6.52 annualized dividend and a yield of 1.24%. Elevance Health’s payout ratio is currently 25.90%.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several large investors have recently modified their holdings of the business. Venture Visionary Partners LLC boosted its holdings in shares of Elevance Health by 3.0% during the 4th quarter. Venture Visionary Partners LLC now owns 725 shares of the company’s stock valued at $342,000 after buying an additional 21 shares in the last quarter. Childress Capital Advisors LLC grew its position in Elevance Health by 4.4% during the fourth quarter. Childress Capital Advisors LLC now owns 634 shares of the company’s stock worth $299,000 after buying an additional 27 shares during the period. Harbour Investments Inc. lifted its stake in shares of Elevance Health by 2.5% in the 4th quarter. Harbour Investments Inc. now owns 1,235 shares of the company’s stock valued at $582,000 after purchasing an additional 30 shares in the last quarter. Guardian Wealth Advisors LLC NC grew its stake in shares of Elevance Health by 5.1% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 640 shares of the company’s stock valued at $302,000 after buying an additional 31 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in Elevance Health by 2.4% during the 1st quarter. Continuum Advisory LLC now owns 1,328 shares of the company’s stock worth $611,000 after buying an additional 31 shares during the period. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ELV shares. Barclays started coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada upped their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company dropped their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $569.00.

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.