Elevance Health (NYSE:ELV) PT Raised to $621.00 at Barclays

Elevance Health (NYSE:ELV) had its target price raised by Barclays from $584.00 to $621.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently issued reports on ELV. Cantor Fitzgerald restated an overweight rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Jefferies Financial Group boosted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a buy rating in a research report on Friday. StockNews.com downgraded shares of Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an overweight rating for the company in a research report on Monday, April 8th. Finally, Royal Bank of Canada boosted their target price on shares of Elevance Health from $572.00 to $574.00 and gave the company an outperform rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $587.64.

Elevance Health Price Performance

Shares of ELV opened at $532.17 on Friday. The firm has a market capitalization of $123.69 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health has a 1-year low of $412.00 and a 1-year high of $539.11. The company’s fifty day moving average price is $509.68 and its 200-day moving average price is $484.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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 firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $9.46 earnings per share. On average, equities research analysts predict that Elevance Health will post 37.24 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insiders Place Their Bets

In related news, Director Ramiro G. Peru sold 753 shares of the company’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 completion of the transaction, 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 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Nilsine Partners LLC raised its position in shares of Elevance Health by 45.2% during the 1st quarter. Nilsine Partners LLC now owns 2,252 shares of the company’s stock worth $1,168,000 after purchasing an additional 701 shares during the last quarter. Bay Rivers Group acquired a new position in shares of Elevance Health during the 1st quarter worth about $205,000. Greystone Financial Group LLC grew its stake in Elevance Health by 66.6% during the 1st quarter. Greystone Financial Group LLC now owns 18,606 shares of the company’s stock valued at $9,648,000 after acquiring an additional 7,440 shares in the last quarter. HF Advisory Group LLC grew its stake in Elevance Health by 0.7% during the 1st quarter. HF Advisory Group LLC now owns 2,983 shares of the company’s stock valued at $1,547,000 after acquiring an additional 21 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in Elevance Health during the 1st quarter valued at about $399,000. 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.