Wolfe Research Estimates Elevance Health FY2029 Earnings

Elevance Health, Inc. (NYSE:ELV) – Wolfe Research issued their FY2029 earnings per share (EPS) estimates for shares of Elevance Health in a report issued on Monday, March 31st. Wolfe Research analyst J. Lake expects that the company will post earnings per share of $61.16 for the year. The consensus estimate for Elevance Health’s current full-year earnings is $33.96 per share.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%.

Several other equities analysts have also recently weighed in on the company. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company decreased their price target 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, January 28th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $519.81.

Elevance Health Trading Down 0.8 %

Elevance Health stock opened at $429.36 on Thursday. Elevance Health has a 1 year low of $362.21 and a 1 year high of $567.26. The firm’s 50 day moving average price is $407.13 and its 200-day moving average price is $418.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The stock has a market cap of $97.20 billion, a P/E ratio of 16.77, a PEG ratio of 1.18 and a beta of 0.77.

Institutional Trading of Elevance Health

Several large investors have recently made changes to their positions in ELV. Mutual Advisors LLC lifted its position in Elevance Health by 2.5% during the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock valued at $833,000 after purchasing an additional 52 shares during the period. Czech National Bank lifted its holdings in shares of Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock valued at $18,551,000 after buying an additional 3,049 shares during the period. Diversified Trust Co boosted its stake in shares of Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares during the last quarter. JB Capital LLC grew its holdings in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after acquiring an additional 8,038 shares during the period. Finally, Tidal Investments LLC grew its holdings in Elevance Health by 60.6% during the third quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock worth $5,452,000 after acquiring an additional 3,956 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th were paid 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 was Monday, March 10th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.59%. Elevance Health’s payout ratio is presently 26.71%.

Elevance Health Company Profile

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.