Elevance Health (NYSE:ELV) Earns “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of Elevance Health (NYSE:ELV) in a research report sent to investors on Thursday, Benzinga reports. Stephens currently has a $615.00 price target on the stock.

Other analysts also recently issued research reports about the company. TD Cowen reduced their price objective on Elevance Health from $624.00 to $589.00 and set a buy rating on the stock in a research note on Friday, July 19th. Baird R W upgraded shares of Elevance Health to a strong-buy rating in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $600.00 to $593.00 and set an overweight rating for the company in a research report on Monday, July 22nd. Truist Financial boosted their target price on shares of Elevance Health from $600.00 to $620.00 and gave the stock a buy rating in a report on Monday, July 15th. Finally, Royal Bank of Canada upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company an outperform rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $604.29.

Elevance Health Trading Down 0.5 %

ELV stock opened at $541.91 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health has a 1-year low of $431.38 and a 1-year high of $567.26. The business has a 50 day simple moving average of $533.79 and a two-hundred day simple moving average of $526.61. The company has a market capitalization of $125.95 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.22 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $9.04 earnings per share. Research analysts anticipate that Elevance Health will post 37.25 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.20%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ramiro G. Peru sold 753 shares of the 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 of the company’s stock, valued at $4,647,610.88. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock valued at $17,588,116 in the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Large investors have recently bought and sold shares of the stock. Richwood Investment Advisors LLC grew its holdings in shares of Elevance Health by 0.8% during the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after buying an additional 20 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. lifted its holdings in shares of Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after purchasing an additional 20 shares during the period. Finally, American Trust boosted its position in Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after buying an additional 20 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.