Elevance Health (NYSE:ELV) Given New $512.00 Price Target at Barclays

Elevance Health (NYSE:ELV) had its price target increased by Barclays from $501.00 to $512.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Truist Financial cut their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $440.00 in a research note on Wednesday. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Finally, Cantor Fitzgerald lowered their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $525.60.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $401.43 on Friday. The firm’s 50 day simple moving average is $386.20 and its two-hundred day simple moving average is $463.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $93.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. Elevance Health has a 1-year low of $362.21 and a 1-year high of $567.26.

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 return on equity of 19.56% and a net margin of 3.68%. Research analysts expect that Elevance Health will post 32.95 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.70%. Elevance Health’s dividend payout ratio is presently 23.77%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cypress Wealth Services LLC boosted its position in Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares during the period. Atomi Financial Group Inc. lifted its position in Elevance Health by 4.2% in the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares during the period. Lifeworks Advisors LLC grew its holdings in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after acquiring an additional 25 shares during the period. Catalyst Financial Partners LLC raised its holdings in shares of Elevance Health by 2.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock worth $477,000 after purchasing an additional 26 shares in the last quarter. Finally, Fullcircle Wealth LLC lifted its position in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after acquiring an additional 26 shares during the last quarter. Hedge funds and other 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.