Elevance Health, Inc. (NYSE:ELV) EVP Sells $3,205,182.38 in Stock

Elevance Health, Inc. (NYSE:ELV) EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $430.77 on Monday. The firm has a fifty day moving average price of $526.74 and a 200-day moving average price of $527.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $100.12 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. Elevance Health, Inc. has a 1 year low of $397.98 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company earned $8.99 earnings per share. Equities analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.51%. Elevance Health’s dividend payout ratio is 24.64%.

Hedge Funds Weigh In On Elevance Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Mexico Educational Retirement Board boosted its position in shares of Elevance Health by 14.6% during the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock worth $6,949,000 after acquiring an additional 1,800 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after acquiring an additional 6,610 shares during the last quarter. AMI Investment Management Inc. bought a new position in shares of Elevance Health during the third quarter worth $1,294,000. Artemis Investment Management LLP boosted its position in shares of Elevance Health by 16.1% during the first quarter. Artemis Investment Management LLP now owns 83,757 shares of the company’s stock worth $43,422,000 after acquiring an additional 11,627 shares during the last quarter. Finally, BDF Gestion bought a new position in Elevance Health during the second quarter valued at $5,837,000. Institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ELV. Wells Fargo & Company restated a “buy” rating on shares of Elevance Health in a report on Friday. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley initiated coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. TD Cowen dropped their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Finally, Bank of America restated a “neutral” rating and set a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $572.27.

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.