Elevance Health, Inc. (NYSE:ELV – Get Free Report) was down 2.5% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $432.79 and last traded at $433.38. Approximately 538,083 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,064,795 shares. The stock had previously closed at $444.35.
The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the prior year, the business earned $8.99 earnings per share. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is presently 24.64%.
Analyst Ratings Changes
Read Our Latest Report on Elevance Health
Insider Activity at Elevance Health
In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,170 shares of company stock worth $20,638,737 over the last three months. Company insiders own 0.35% of the company’s stock.
Institutional Trading of Elevance Health
A number of large investors have recently bought and sold shares of ELV. Vest Financial LLC boosted its position in shares of Elevance Health by 23.9% during the 3rd quarter. Vest Financial LLC now owns 51,779 shares of the company’s stock valued at $26,925,000 after purchasing an additional 9,979 shares in the last quarter. OLD National Bancorp IN lifted its stake in Elevance Health by 1.6% in the third quarter. OLD National Bancorp IN now owns 4,813 shares of the company’s stock valued at $2,503,000 after buying an additional 74 shares during the period. Resonant Capital Advisors LLC boosted its holdings in shares of Elevance Health by 43.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 721 shares of the company’s stock worth $375,000 after buying an additional 220 shares in the last quarter. TriaGen Wealth Management LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth approximately $1,282,000. Finally, Harfst & Associates Inc. increased its stake in shares of Elevance Health by 7.5% in the 3rd quarter. Harfst & Associates Inc. now owns 4,894 shares of the company’s stock valued at $2,545,000 after acquiring an additional 341 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.
Elevance Health Stock Down 3.1 %
The company has a market cap of $100.12 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82. The stock’s 50-day moving average is $526.74 and its 200-day moving average is $527.66. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58.
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.
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