Elevance Health, Inc. (NYSE:ELV) Receives $539.20 Consensus Price Target from Brokerages

Elevance Health, Inc. (NYSE:ELV) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $539.20.

A number of research analysts recently commented on ELV shares. Barclays decreased their price target on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. UBS Group cut their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Cantor Fitzgerald cut their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of Elevance Health

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in shares of Elevance Health by 493.6% in the 1st quarter. Cetera Investment Advisers now owns 59,988 shares of the company’s stock valued at $31,107,000 after purchasing an additional 49,883 shares during the last quarter. Cetera Advisors LLC boosted its position in Elevance Health by 90.1% during the first quarter. Cetera Advisors LLC now owns 11,335 shares of the company’s stock valued at $5,878,000 after acquiring an additional 5,372 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in Elevance Health by 4.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 36,641 shares of the company’s stock worth $19,000,000 after acquiring an additional 1,441 shares during the period. American Trust raised its position in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after acquiring an additional 20 shares in the last quarter. Finally, Old Port Advisors acquired a new position in shares of Elevance Health in the 1st quarter valued at about $213,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Trading Up 0.8 %

Shares of Elevance Health stock opened at $410.39 on Friday. Elevance Health has a 52-week low of $391.02 and a 52-week high of $567.26. The stock has a market cap of $95.18 billion, a PE ratio of 14.97, a PEG ratio of 1.21 and a beta of 0.85. The firm has a 50-day moving average of $446.87 and a 200-day moving average of $504.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $8.99 earnings per share. As a group, sell-side analysts forecast that Elevance Health will post 32.96 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.59%. Elevance Health’s dividend payout ratio (DPR) is presently 23.77%.

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.