Elevance Health (NYSE:ELV) Given New $604.00 Price Target at Jefferies Financial Group

Elevance Health (NYSE:ELV) had its target price increased by Jefferies Financial Group from $602.00 to $604.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on ELV. Royal Bank of Canada increased their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Cantor Fitzgerald restated an overweight rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Barclays began coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They set an overweight rating and a $584.00 price objective for the company. StockNews.com downgraded shares of Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company cut their price objective on shares of Elevance Health from $561.00 to $557.00 and set an overweight rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $587.64.

Elevance Health Trading Up 0.1 %

Shares of NYSE:ELV opened at $532.17 on Friday. Elevance Health has a 52 week low of $412.00 and a 52 week high of $539.11. The company’s 50 day moving average is $509.68 and its two-hundred day moving average is $484.51. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $123.69 billion, a PE ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the business posted $9.46 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Elevance Health will post 37.24 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 Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elevance Health

Several hedge funds have recently modified their holdings of ELV. AE Wealth Management LLC boosted its stake in shares of Elevance Health by 4.9% during the 3rd quarter. AE Wealth Management LLC now owns 19,176 shares of the company’s stock worth $8,350,000 after purchasing an additional 891 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Elevance Health by 14.1% in the third quarter. Wealthcare Advisory Partners LLC now owns 1,194 shares of the company’s stock worth $520,000 after acquiring an additional 148 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Elevance Health by 106.9% in the third quarter. IFP Advisors Inc now owns 2,683 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,386 shares during the last quarter. Janiczek Wealth Management LLC boosted its position in shares of Elevance Health by 21.8% in the third quarter. Janiczek Wealth Management LLC now owns 442 shares of the company’s stock worth $192,000 after acquiring an additional 79 shares during the last quarter. Finally, OneAscent Wealth Management LLC acquired a new stake in shares of Elevance Health in the third quarter worth approximately $267,000. 89.24% of the stock is owned by institutional investors and hedge funds.

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.