Elevance Health (ELV) Scheduled to Post Quarterly Earnings on Thursday

Elevance Health (NYSE:ELV) will release its earnings data before the market opens on Thursday, April 18th. Analysts expect Elevance Health to post earnings of $10.52 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, topping analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.23 EPS. On average, analysts expect Elevance Health to post $37 EPS for the current fiscal year and $41 EPS for the next fiscal year.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $507.45 on Thursday. The company has a market capitalization of $118.08 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.12 and a beta of 0.78. Elevance Health has a 12 month low of $412.00 and a 12 month high of $521.18. The firm’s 50-day moving average is $507.30 and its 200 day moving average is $480.29. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.28%. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. Elevance Health’s dividend payout ratio is presently 25.90%.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELV. Norges Bank acquired a new position in Elevance Health during the 4th quarter valued at approximately $1,253,211,000. Legal & General Group Plc acquired a new position in Elevance Health during the 4th quarter valued at approximately $944,528,000. Moneta Group Investment Advisors LLC acquired a new position in Elevance Health during the 4th quarter valued at approximately $664,077,000. Arrowstreet Capital Limited Partnership increased its stake in Elevance Health by 825.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 758,754 shares of the company’s stock valued at $372,715,000 after purchasing an additional 676,769 shares in the last quarter. Finally, Barclays PLC increased its stake in Elevance Health by 52.9% during the 2nd quarter. Barclays PLC now owns 1,263,401 shares of the company’s stock valued at $561,318,000 after purchasing an additional 437,225 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ELV. Royal Bank of Canada upped their price target on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Barclays began coverage on shares of Elevance Health in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price on the stock. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday. Finally, Wells Fargo & Company lowered their price target on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $569.00.

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.