Shares of Elevance Health, Inc. (NYSE:ELV – Get Free Report) have been given an average rating of “Moderate Buy” by the twenty-three brokerages that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $440.9048.
ELV has been the topic of a number of analyst reports. Guggenheim increased their target price on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. UBS Group lifted their price target on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Raymond James Financial set a $450.00 price target on Elevance Health in a research note on Tuesday, July 7th. Bank of America increased their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Barclays lowered their price objective on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th.
Read Our Latest Stock Report on ELV
Elevance Health Stock Up 1.1%
Elevance Health (NYSE:ELV – Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the prior year, the company posted $8.84 earnings per share. Elevance Health’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that Elevance Health will post 27.07 EPS for the current year.
Elevance Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be issued a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.
Insider Activity at Elevance Health
In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.
Hedge Funds Weigh In On Elevance Health
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Elevance Health during the 2nd quarter worth approximately $7,344,424,000. Wellington Management Group LLP increased its stake in Elevance Health by 12.0% in the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock valued at $3,563,142,000 after acquiring an additional 984,976 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after purchasing an additional 455,946 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after purchasing an additional 24,271 shares during the last quarter. 89.24% of the stock is owned by institutional investors.
About Elevance Health
Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.
Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.
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