Elevance Health, Inc. (NYSE:ELV) Given Average Rating of “Buy” by Brokerages

Elevance Health, Inc. (NYSE:ELV) has been given a consensus rating of “Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $605.07.

Several brokerages have recently issued reports on ELV. Barclays boosted their price objective on Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company dropped their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. TD Cowen decreased their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Stephens restated an “overweight” rating and set a $615.00 price target on shares of Elevance Health in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, October 1st.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 over the last quarter. 0.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds have recently added to or reduced their stakes in ELV. Professional Financial Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter valued at approximately $1,238,000. CHICAGO TRUST Co NA lifted its position in shares of Elevance Health by 110.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 1,667 shares of the company’s stock valued at $867,000 after acquiring an additional 874 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Elevance Health by 50.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,970 shares of the company’s stock valued at $1,024,000 after acquiring an additional 664 shares during the period. Asio Capital LLC lifted its position in shares of Elevance Health by 2.4% during the 3rd quarter. Asio Capital LLC now owns 9,689 shares of the company’s stock valued at $5,038,000 after acquiring an additional 229 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of Elevance Health during the 3rd quarter valued at approximately $204,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.3 %

Shares of NYSE:ELV opened at $492.18 on Friday. Elevance Health has a 12-month low of $435.99 and a 12-month high of $567.26. The business’s fifty day simple moving average is $533.40 and its 200-day simple moving average is $529.32. The company has a market capitalization of $114.39 billion, a PE ratio of 18.60, a P/E/G ratio of 1.17 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion for the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the previous year, the business earned $9.04 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts predict that Elevance Health will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.