Elevance Health (NYSE:ELV) Price Target Lowered to $501.00 at Barclays

Elevance Health (NYSE:ELV) had its target price lowered by Barclays from $622.00 to $501.00 in a research report sent to investors on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a report on Friday. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $557.20.

Elevance Health Price Performance

Shares of NYSE ELV opened at $419.84 on Tuesday. Elevance Health has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business’s fifty day moving average price is $522.44 and its two-hundred day moving average price is $526.65. The firm has a market capitalization of $97.58 billion, a PE ratio of 15.87, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the business earned $8.99 earnings per share. Elevance Health’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that Elevance Health will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.55%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors have recently bought and sold shares of ELV. International Assets Investment Management LLC boosted its position in Elevance Health by 85,533.1% during the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. M&G Plc purchased a new stake in shares of Elevance Health during the 1st quarter worth about $203,389,000. Maj Invest Holding A S purchased a new stake in shares of Elevance Health during the 2nd quarter worth about $173,753,000. Finally, First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. 89.24% of the stock is currently 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.