Elevance Health, Inc. (NYSE:ELV) Receives $536.53 Average PT from Analysts

Elevance Health, Inc. (NYSE:ELV) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $525.60.

Several brokerages have commented on ELV. Wells Fargo & Company dropped their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Barclays lifted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Mizuho cut their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research report on Wednesday.

Elevance Health Stock Up 0.0 %

Shares of NYSE:ELV opened at $401.43 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market cap of $93.10 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The firm’s 50 day moving average price is $386.21 and its 200 day moving average price is $462.34.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. As a group, equities research analysts predict that Elevance Health will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio is 26.71%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ELV. Raelipskie Partnership acquired a new stake in shares of Elevance Health in the third quarter valued at about $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the 4th quarter valued at approximately $34,000. Finally, Dunhill Financial LLC raised its holdings in Elevance Health by 57.8% during the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 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.