Elevance Health, Inc. (NYSE:ELV) CEO Sells $17,033,320.00 in Stock

Elevance Health, Inc. (NYSE:ELV) CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Elevance Health Stock Down 0.3 %

ELV stock traded down $1.47 during midday trading on Tuesday, hitting $502.42. The company’s stock had a trading volume of 950,915 shares, compared to its average volume of 1,060,953. The company has a market cap of $116.51 billion, a PE ratio of 19.03, a P/E/G ratio of 1.11 and a beta of 0.84. Elevance Health, Inc. has a 12 month low of $431.38 and a 12 month high of $555.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $532.42 and its 200-day moving average is $515.38.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.99 by $0.13. The business had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $9.04 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a $1.63 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.30%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Wall Street Analysts Forecast Growth

ELV has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on Elevance Health in a report on Thursday, May 30th. They set an “outperform” rating and a $649.00 target price on the stock. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Royal Bank of Canada upped their target price on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a report on Tuesday. Finally, Bank of America reiterated a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $604.29.

Hedge Funds Weigh In On Elevance Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. abrdn plc lifted its position in Elevance Health by 86.8% in the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after acquiring an additional 129,364 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Elevance Health by 21.3% during the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock valued at $24,663,000 after buying an additional 9,199 shares during the period. Canoe Financial LP lifted its holdings in shares of Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after buying an additional 517,116 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Elevance Health during the 4th quarter valued at $218,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Elevance Health by 114.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after buying an additional 16,737 shares during the period. 89.24% of the stock is owned by institutional investors.

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.