Elevance Health (NYSE:ELV) Upgraded at StockNews.com

StockNews.com upgraded shares of Elevance Health (NYSE:ELV) from a hold rating to a buy rating in a research note published on Saturday.

ELV has been the topic of a number of other reports. Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company decreased their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Argus reaffirmed a “hold” rating and issued a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Stephens downgraded Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Mizuho lowered their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Down 0.3 %

Shares of NYSE ELV opened at $395.63 on Friday. The company has a market capitalization of $89.95 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company has a 50 day simple moving average of $388.27 and a 200-day simple moving average of $437.33. Elevance Health has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts predict that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s payout ratio is presently 26.71%.

Institutional Trading of Elevance Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Accredited Wealth Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth about $25,000. Raelipskie Partnership purchased a new position in Elevance Health in the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC acquired a new stake in Elevance Health during the fourth quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $29,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.