Insider Selling: Elevance Health, Inc. (NYSE:ELV) EVP Sells 14,111 Shares of Stock

Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Elevance Health Stock Down 0.4 %

ELV stock opened at $537.26 on Friday. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The company has a market capitalization of $124.87 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The firm’s 50-day moving average is $511.89 and its two-hundred day moving average is $486.62. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the previous year, the firm earned $9.46 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s payout ratio is currently 24.64%.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Richwood Investment Advisors LLC raised its holdings in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after purchasing an additional 20 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after purchasing an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares in the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares in the last quarter. Finally, HF Advisory Group LLC raised its holdings in shares of Elevance Health by 0.7% during the first quarter. HF Advisory Group LLC now owns 2,983 shares of the company’s stock valued at $1,547,000 after acquiring an additional 21 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELV. Wells Fargo & Company boosted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Mizuho boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial reissued a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

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.