Wolfe Research Forecasts Elevance Health FY2029 Earnings

Elevance Health, Inc. (NYSE:ELV) – Analysts at Wolfe Research issued their FY2029 earnings estimates for shares of Elevance Health in a research report issued to clients and investors on Monday, March 31st. Wolfe Research analyst J. Lake anticipates that the company will earn $61.16 per share for the year. The consensus estimate for Elevance Health’s current full-year earnings is $33.96 per share.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%.

A number of other equities analysts have also recently commented on the company. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Price Performance

Elevance Health stock opened at $429.36 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The company’s fifty day moving average price is $407.13 and its 200 day moving average price is $418.89. The stock has a market capitalization of $97.20 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health has a 1 year low of $362.21 and a 1 year high of $567.26.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Elevance Health by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 21,485,574 shares of the company’s stock valued at $7,926,028,000 after acquiring an additional 138,380 shares during the period. State Street Corp grew its holdings in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock valued at $5,557,759,000 after purchasing an additional 129,709 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Elevance Health by 4.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,618,062 shares of the company’s stock valued at $3,917,004,000 after buying an additional 464,137 shares during the period. Wellington Management Group LLP increased its position in shares of Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Elevance Health by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,963,991 shares of the company’s stock valued at $1,826,447,000 after acquiring an additional 115,971 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. The trade was a 19.34 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Elevance Health Company Profile

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.