Elevance Health (NYSE:ELV) PT Lowered to $552.00 at JPMorgan Chase & Co.

Elevance Health (NYSE:ELV) had its target price reduced by JPMorgan Chase & Co. from $569.00 to $552.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

ELV has been the topic of a number of other reports. Stephens reissued an overweight rating and set a $555.00 target price on shares of Elevance Health in a research report on Thursday, July 20th. Royal Bank of Canada reissued an outperform rating and set a $572.00 target price on shares of Elevance Health in a research report on Thursday, July 20th. TD Cowen boosted their target price on shares of Elevance Health from $564.00 to $585.00 and gave the stock an outperform rating in a research report on Monday, July 24th. Cantor Fitzgerald restated an overweight rating and issued a $547.00 price target on shares of Elevance Health in a research note on Thursday, October 19th. Finally, Morgan Stanley lifted their price target on shares of Elevance Health from $585.00 to $587.00 and gave the stock an overweight rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $565.82.

Elevance Health Trading Up 0.5 %

Shares of ELV stock opened at $465.37 on Friday. The stock has a market cap of $109.34 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.62. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $544.01. The firm’s 50 day moving average price is $451.18 and its two-hundred day moving average price is $453.67.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, October 18th. The company reported $8.99 EPS for the quarter, topping analysts’ consensus estimates of $8.45 by $0.54. Elevance Health had a net margin of 3.61% and a return on equity of 20.71%. The business had revenue of $42.48 billion for the quarter, compared to analysts’ expectations of $42.69 billion. During the same period in the previous year, the company posted $7.53 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Elevance Health will post 33.07 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $5.92 annualized dividend and a yield of 1.27%. Elevance Health’s payout ratio is 23.24%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 64 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $454.35, for a total transaction of $29,078.40. Following the completion of the sale, the chief accounting officer now owns 2,842 shares in the company, valued at $1,291,262.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Elevance Health by 97,501.7% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 83,475,802 shares of the company’s stock valued at $37,087,464,000 after acquiring an additional 83,390,275 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Elevance Health by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,277,170 shares of the company’s stock valued at $6,104,976,000 after acquiring an additional 551,614 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Elevance Health by 1.5% during the second quarter. Geode Capital Management LLC now owns 4,341,458 shares of the company’s stock valued at $1,923,163,000 after acquiring an additional 63,121 shares during the period. Sanders Capital LLC boosted its holdings in shares of Elevance Health by 1.4% during the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock valued at $1,855,750,000 after acquiring an additional 58,013 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Elevance Health by 12.9% during the first quarter. Ameriprise Financial Inc. now owns 3,622,916 shares of the company’s stock valued at $1,664,416,000 after acquiring an additional 414,592 shares during the period. Institutional investors and hedge funds own 87.80% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.