Elevance Health’s (ELV) Hold Rating Reaffirmed at Argus

Argus reiterated their hold rating on shares of Elevance Health (NYSE:ELV) in a research note issued to investors on Wednesday,Benzinga reports. Argus currently has a $405.40 target price on the stock.

ELV has been the topic of several other reports. Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Barclays upped their price target on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Truist Financial decreased their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

ELV stock opened at $395.82 on Wednesday. Elevance Health has a 1 year low of $362.21 and a 1 year high of $567.26. The firm has a market capitalization of $91.80 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.20 and a beta of 0.84. 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 business’s 50-day moving average is $386.63 and its two-hundred day moving average is $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Analysts anticipate that Elevance Health will post 34.09 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 25.46%.

Institutional Trading of Elevance Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Elevance Health in the 2nd quarter valued at $73,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of Elevance Health by 39.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 3,982 shares of the company’s stock worth $2,158,000 after acquiring an additional 1,127 shares during the period. EP Wealth Advisors LLC grew its holdings in Elevance Health by 18.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,882 shares of the company’s stock worth $1,020,000 after acquiring an additional 289 shares during the period. Advisory Alpha LLC boosted its stake in Elevance Health by 6.6% during the second quarter. Advisory Alpha LLC now owns 1,018 shares of the company’s stock worth $552,000 after acquiring an additional 63 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in shares of Elevance Health during the second quarter valued at approximately $280,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

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.