Mizuho Issues Positive Forecast for Elevance Health (NYSE:ELV) Stock Price

Elevance Health (NYSE:ELV) had its price target upped by Mizuho from $455.00 to $505.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company cut their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $519.71.

Elevance Health Trading Down 0.8 %

ELV traded down $3.35 during trading on Wednesday, reaching $432.33. 744,673 shares of the stock traded hands, compared to its average volume of 1,434,281. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The stock’s 50-day moving average is $411.57 and its 200 day moving average is $414.52. Elevance Health has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market capitalization of $97.87 billion, a PE ratio of 16.89, a P/E/G ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th were given a dividend of $1.71 per share. The ex-dividend date was Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.58%. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Insider Transactions at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of the company. Accredited Wealth Management LLC purchased a new stake in Elevance Health in the 4th quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health during the fourth quarter worth about $26,000. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health in the fourth quarter worth about $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the 4th quarter valued at approximately $29,000. 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.