Elevance Health, Inc. (NYSE:ELV) Given Average Rating of “Moderate Buy” by Analysts

Elevance Health, Inc. (NYSE:ELV) has been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $440.9048.

Several brokerages recently commented on ELV. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. Jefferies Financial Group dropped their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Royal Bank Of Canada cut their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’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 sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in Elevance Health by 7.7% in the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after acquiring an additional 11,745 shares during the period. Glenview Trust co raised its position in shares of Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after purchasing an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after purchasing an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

ELV stock opened at $389.29 on Thursday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $84.42 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.26 and a beta of 0.67. The company’s fifty day simple moving average is $399.36 and its 200 day simple moving average is $356.20. Elevance Health has a 12-month low of $273.71 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the business posted $8.84 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, analysts expect that Elevance Health will post 27.08 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.8%. Elevance Health’s dividend payout ratio is currently 30.58%.

Elevance Health Company Profile

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.