Elevance Health (NYSE:ELV) Posts Earnings Results, Beats Expectations By $0.10 EPS

Elevance Health (NYSE:ELV) announced its quarterly earnings data on Thursday. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10, Briefing.com reports. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.46 earnings per share.

Elevance Health Trading Up 3.2 %

Shares of ELV opened at $525.19 on Friday. The stock’s 50-day moving average is $508.63 and its two-hundred day moving average is $482.59. The stock has a market cap of $122.21 billion, a PE ratio of 20.87, a P/E/G ratio of 1.12 and a beta of 0.78. Elevance Health has a 12 month low of $412.00 and a 12 month high of $539.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, March 7th. This is a boost from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s payout ratio is currently 25.90%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ELV. Fortis Capital Advisors LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $29,000. Quarry LP acquired a new position in shares of Elevance Health in the fourth quarter worth about $30,000. TD Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $30,000. O Dell Group LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $32,000. Finally, West Tower Group LLC acquired a new position in shares of Elevance Health in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.00.

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.