Wolfe Research Forecasts Elevance Health FY2029 Earnings

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

A number of other equities analysts also recently weighed in on the company. Truist Financial dropped their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research note on Friday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com raised Elevance Health from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Stock Down 5.3 %

Shares of NYSE:ELV opened at $428.62 on Thursday. The company has a market cap of $97.03 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The firm has a 50 day simple moving average of $408.70 and a 200 day simple moving average of $418.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last posted 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 18.28% and a net margin of 3.38%.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 10th were issued a $1.71 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, March 10th. Elevance Health’s dividend payout ratio is currently 26.71%.

Insider Activity at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now owns 1,847 shares of the company’s stock, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Elevance Health in the fourth quarter valued at $1,135,014,000. Wellington Management Group LLP boosted its stake in Elevance Health by 42.5% in the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company’s stock valued at $2,344,556,000 after buying an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company’s stock valued at $1,189,828,000 after buying an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company’s stock worth $335,254,000 after purchasing an additional 895,658 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in Elevance Health during the 4th quarter worth approximately $294,751,000. 89.24% of the stock is owned by institutional investors and hedge funds.

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.