Elevance Health (NYSE:ELV) Price Target Cut to $480.00 by Analysts at Barclays

Elevance Health (NYSE:ELV) had its price target reduced by Barclays from $522.00 to $480.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also commented on ELV. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price objective on shares of Elevance Health in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $529.00 target price (down from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Baird R W downgraded shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $499.53.

Elevance Health Stock Down 1.8%

ELV opened at $377.08 on Monday. Elevance Health has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. 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 has a fifty day moving average of $413.40 and a two-hundred day moving average of $401.21. The stock has a market capitalization of $85.20 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. On average, research analysts expect that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 26.69%.

Insider Activity at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company’s stock, valued at $8,061,809.14. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 in the last ninety days. Insiders own 0.29% of the company’s stock.

Institutional Trading of Elevance Health

A number of large investors have recently bought and sold shares of ELV. Milestone Asset Management LLC lifted its stake in shares of Elevance Health by 2.2% in the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after acquiring an additional 24 shares during the period. GLOBALT Investments LLC GA lifted its stake in shares of Elevance Health by 0.4% in the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after acquiring an additional 24 shares during the period. Elser Financial Planning Inc lifted its stake in shares of Elevance Health by 3.0% in the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock worth $384,000 after acquiring an additional 26 shares during the period. Tobam lifted its stake in shares of Elevance Health by 6.6% in the fourth quarter. Tobam now owns 434 shares of the company’s stock valued at $160,000 after purchasing an additional 27 shares during the period. Finally, Jacobi Capital Management LLC lifted its stake in shares of Elevance Health by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock valued at $325,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds 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.