Elevance Health (NYSE:ELV) Cut to Sector Perform at Royal Bank Of Canada

Royal Bank Of Canada cut shares of Elevance Health (NYSE:ELV) from an outperform rating to a sector perform rating in a report published on Tuesday, MarketBeat Ratings reports. They currently have $358.00 target price on the stock.

ELV has been the topic of several other reports. UBS Group set a $400.00 price target on shares of Elevance Health in a report on Thursday, January 29th. Wells Fargo & Company cut their target price on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Barclays lowered their price objective on Elevance Health from $404.00 to $393.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Finally, Leerink Partners increased their target price on Elevance Health from $350.00 to $357.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Stock Down 2.5%

Shares of Elevance Health stock opened at $332.24 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.56. Elevance Health has a 1-year low of $273.71 and a 1-year high of $458.75. The business has a 50-day moving average of $351.90 and a 200-day moving average of $329.69. The company has a market capitalization of $73.84 billion, a PE ratio of 13.23, a P/E/G ratio of 1.90 and a beta of 0.50.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. During the same quarter in the prior year, the business posted $3.84 earnings per share. Elevance Health’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities analysts forecast that Elevance Health will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s payout ratio is currently 27.23%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC grew its position in shares of Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after acquiring an additional 37 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Elevance Health during the 2nd quarter valued at about $32,000. Physician Wealth Advisors Inc. grew its position in Elevance Health by 331.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Rossby Financial LCC grew its position in Elevance Health by 110.0% in the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Elevance Health by 66.7% in the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 34 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.