UBS Group Boosts Elevance Health (NYSE:ELV) Price Target to $605.00

Elevance Health (NYSE:ELV) had its price objective upped by UBS Group from $585.00 to $605.00 in a research report released on Friday, Benzinga reports. UBS Group currently has a buy rating on the stock.

ELV has been the topic of several other reports. StockNews.com downgraded shares of Elevance Health from a strong-buy rating to a buy rating in a report on Thursday, January 25th. Barclays raised their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a report on Friday. Truist Financial reiterated a buy rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a report on Friday. Cantor Fitzgerald reiterated an overweight rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Finally, Royal Bank of Canada lifted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an outperform rating in a report on Thursday, January 25th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $583.77.

Elevance Health Stock Up 1.2 %

Elevance Health stock opened at $531.59 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.44. The firm has a market capitalization of $123.70 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.15 and a beta of 0.78. The company’s 50 day simple moving average is $509.14 and its 200 day simple moving average is $483.22. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $539.11.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $9.46 EPS. As a group, sell-side analysts anticipate that Elevance Health will post 37.2 EPS for the current year.

Elevance Health Announces Dividend

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

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on 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 of the company’s stock, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the third quarter valued at about $25,000. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health in the fourth quarter valued at about $28,000. Fortis Capital Advisors LLC acquired a new position in Elevance Health in the fourth quarter valued at about $29,000. TD Capital Management LLC acquired a new position in Elevance Health in the fourth quarter valued at about $30,000. Finally, Quarry LP acquired a new position in Elevance Health in the fourth quarter valued at about $30,000. 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.