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

Argus reaffirmed their hold rating on shares of Elevance Health (NYSE:ELV) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $405.40 target price on the stock.

Several other equities research analysts also recently issued reports on ELV. Mizuho lowered their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday. UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Finally, Barclays increased their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Four equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $517.03.

Elevance Health Trading Down 1.2 %

Elevance Health stock opened at $400.62 on Wednesday. The company has a market capitalization of $92.91 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.11 and a beta of 0.84. The company’s fifty day moving average price is $386.65 and its two-hundred day moving average price is $459.57. Elevance Health has a one year low of $362.21 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

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, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. On average, analysts forecast that Elevance Health will post 32.95 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.71%. Elevance Health’s dividend payout ratio (DPR) is presently 26.71%.

Institutional Trading of Elevance Health

Hedge funds have recently modified their holdings of the company. Raelipskie Partnership acquired a new stake in shares of Elevance Health during the third quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $31,000. Crews Bank & Trust acquired a new stake in shares of Elevance Health in the fourth quarter valued at approximately $34,000. Finally, Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds 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.