Elevance Health (NYSE:ELV) PT Lowered to $555.00

Elevance Health (NYSE:ELV) had its price objective lowered by UBS Group from $605.00 to $555.00 in a report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Morgan Stanley began coverage on shares of Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Truist Financial restated a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday. TD Cowen dropped their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Wells Fargo & Company reduced their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $565.27.

Elevance Health Price Performance

NYSE:ELV opened at $422.39 on Friday. The business’s 50-day moving average is $524.68 and its 200 day moving average is $527.27. Elevance Health has a 12 month low of $397.98 and a 12 month high of $567.26. The company has a market capitalization of $98.17 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.99 EPS. On average, equities research analysts forecast that Elevance Health will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a dividend yield of 1.54%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s 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 transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board increased its holdings in Elevance Health by 14.6% during the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after buying an additional 1,800 shares during the period. Blair William & Co. IL lifted its stake in shares of Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after purchasing an additional 6,610 shares during the last quarter. AMI Investment Management Inc. purchased a new position in Elevance Health in the third quarter valued at about $1,294,000. Artemis Investment Management LLP lifted its position in shares of Elevance Health by 16.1% during the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock valued at $43,422,000 after buying an additional 11,627 shares during the last quarter. Finally, BDF Gestion bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $5,837,000. 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.