Elevance Health, Inc. (NYSE:ELV – Free Report) hit a new 52-week low during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $572.00 to $535.00. The company traded as low as $428.73 and last traded at $429.40, with a volume of 1456696 shares trading hands. The stock had previously closed at $439.30.
ELV has been the topic of a number of other reports. StockNews.com assumed coverage on shares of Elevance Health in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Morgan Stanley upgraded shares of Elevance Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $500.00 to $571.00 in a report on Thursday, April 27th. 22nd Century Group reiterated an “upgrade” rating on shares of Elevance Health in a report on Thursday, April 27th. Truist Financial cut their price objective on shares of Elevance Health from $580.00 to $560.00 in a report on Tuesday, June 20th. Finally, Cantor Fitzgerald started coverage on shares of Elevance Health in a report on Thursday, April 20th. They set an “overweight” rating and a $547.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $566.80.
Institutional Trading of Elevance Health
Several large investors have recently bought and sold shares of the company. Wealth Architects LLC grew its position in Elevance Health by 0.7% in the first quarter. Wealth Architects LLC now owns 3,104 shares of the company’s stock valued at $1,427,000 after acquiring an additional 23 shares in the last quarter. Roundview Capital LLC grew its position in Elevance Health by 1.2% in the first quarter. Roundview Capital LLC now owns 1,916 shares of the company’s stock valued at $881,000 after acquiring an additional 23 shares in the last quarter. Intelligence Driven Advisers LLC grew its position in shares of Elevance Health by 4.9% during the first quarter. Intelligence Driven Advisers LLC now owns 494 shares of the company’s stock worth $239,000 after buying an additional 23 shares in the last quarter. Thrive Wealth Management LLC grew its position in shares of Elevance Health by 3.3% during the first quarter. Thrive Wealth Management LLC now owns 761 shares of the company’s stock worth $350,000 after buying an additional 24 shares in the last quarter. Finally, HM Payson & Co. grew its position in shares of Elevance Health by 2.9% during the first quarter. HM Payson & Co. now owns 879 shares of the company’s stock worth $404,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
Elevance Health Price Performance
The company has a debt-to-equity ratio of 0.67, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $101.79 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.12 and a beta of 0.83. The business’s 50-day moving average price is $454.44 and its two-hundred day moving average price is $471.20.
Elevance Health (NYSE:ELV – Free Report) last released its quarterly earnings results on Wednesday, April 19th. The company reported $9.46 earnings per share for the quarter, topping analysts’ consensus estimates of $9.26 by $0.20. Elevance Health had a net margin of 3.86% and a return on equity of 20.05%. The business had revenue of $41.90 billion during the quarter, compared to the consensus estimate of $40.93 billion. During the same quarter last year, the company earned $8.25 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Elevance Health, Inc. will post 32.78 EPS for the current fiscal year.
Elevance Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, June 8th. Elevance Health’s payout ratio is currently 23.04%.
About Elevance Health
Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.