Elevance Health (NYSE:ELV) Price Target Increased to $600.00 by Analysts at Wells Fargo & Company

Elevance Health (NYSE:ELV) had its target price upped by Wells Fargo & Company from $557.00 to $600.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on ELV. Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a research note on Friday. StockNews.com cut Elevance Health from a strong-buy rating to a buy rating in a research note on Thursday, January 25th. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a research note on Friday. Royal Bank of Canada increased their target price on Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Finally, Cantor Fitzgerald reissued an overweight rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $583.77.

Elevance Health Trading Up 1.2 %

NYSE ELV opened at $531.59 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health has a twelve month low of $412.00 and a twelve month high of $539.11. The firm has a market capitalization of $123.70 billion, a PE ratio of 20.09, a P/E/G ratio of 1.15 and a beta of 0.78. The stock’s 50 day moving average is $509.14 and its 200 day moving average is $483.22.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the company posted $9.46 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Research analysts forecast that Elevance Health will post 37.2 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Sanders Capital LLC raised its stake in shares of Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after buying an additional 196,010 shares during the period. Capital International Investors grew its position in shares of Elevance Health by 7.9% during the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after purchasing an additional 248,150 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Elevance Health by 13.1% during the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock worth $1,428,243,000 after purchasing an additional 372,937 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Elevance Health by 1.8% during the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock worth $1,396,583,000 after purchasing an additional 56,204 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of Elevance Health by 0.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares in the last quarter. Institutional investors 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.