Elevance Health (NYSE:ELV) Given New $397.00 Price Target at JPMorgan Chase & Co.

Elevance Health (NYSE:ELV) had its price target raised by JPMorgan Chase & Co. from $394.00 to $397.00 in a research report report published on Monday, Marketbeat.com reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ELV has been the topic of several other reports. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the company an “outperform” rating in a research note on Thursday, January 8th. The Goldman Sachs Group assumed coverage on Elevance Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $343.00 price target on the stock. Morgan Stanley dropped their price objective on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Finally, Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $396.55.

Elevance Health Stock Performance

Shares of ELV opened at $342.01 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $351.94 and a two-hundred day simple moving average of $329.16. The stock has a market cap of $76.01 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.93 and a beta of 0.50. Elevance Health has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts expect that Elevance Health will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.0%. Elevance Health’s payout ratio is currently 27.23%.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently bought and sold shares of the business. PKS Advisory Services LLC bought a new position in Elevance Health during the fourth quarter valued at $206,000. QRG Capital Management Inc. raised its position in shares of Elevance Health by 11.7% during the 4th quarter. QRG Capital Management Inc. now owns 11,388 shares of the company’s stock valued at $3,992,000 after buying an additional 1,191 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Elevance Health by 12.0% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,963 shares of the company’s stock valued at $688,000 after acquiring an additional 210 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in Elevance Health in the fourth quarter worth about $213,000. Finally, Balentine LLC bought a new stake in Elevance Health during the fourth quarter worth approximately $389,000. Institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.