Elevance Health (NYSE:ELV) PT Raised to $604.00

Elevance Health (NYSE:ELV) had its price objective lifted by Jefferies Financial Group from $602.00 to $604.00 in a research note released on Friday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

ELV has been the subject of a number of other research reports. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $561.00 to $557.00 and set an overweight rating for the company in a report on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an outperform rating in a report on Thursday, January 25th. Cantor Fitzgerald restated an overweight rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. StockNews.com cut shares of Elevance Health from a strong-buy rating to a buy rating in a report on Thursday, January 25th. Finally, Barclays began coverage on shares of Elevance Health in a report on Wednesday, March 6th. They set an overweight rating and a $584.00 price target for the company. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $583.77.

Elevance Health Price Performance

Shares of ELV opened at $531.59 on Friday. Elevance Health has a 1-year low of $412.00 and a 1-year high of $539.11. The stock has a market cap of $123.70 billion, a PE ratio of 21.12, a P/E/G ratio of 1.12 and a beta of 0.78. The firm has a 50-day simple moving average of $509.14 and a two-hundred day simple moving average of $483.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business earned $9.46 earnings per share. As a group, analysts forecast that Elevance Health will post 37.03 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio is presently 25.90%.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Several institutional investors and hedge funds have recently bought and sold shares of ELV. Norges Bank purchased a new stake in Elevance Health in the 4th quarter valued at $1,347,434,000. Legal & General Group Plc purchased a new stake in Elevance Health in the 4th quarter valued at $944,528,000. Moneta Group Investment Advisors LLC purchased a new stake in Elevance Health in the 4th quarter valued at $664,077,000. Massachusetts Financial Services Co. MA purchased a new stake in Elevance Health in the 4th quarter valued at $467,141,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Elevance Health by 825.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock valued at $372,715,000 after purchasing an additional 676,769 shares during the last quarter. Hedge funds and other institutional investors 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.