Insider Selling: Elevance Health, Inc. (NYSE:ELV) Director Sells 753 Shares of Stock

Elevance Health, Inc. (NYSE:ELVGet Free Report) Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Elevance Health Trading Up 0.8 %

NYSE ELV opened at $506.08 on Friday. The stock’s 50-day simple moving average is $478.95 and its two-hundred day simple moving average is $464.67. Elevance Health, Inc. has a twelve month low of $412.00 and a twelve month high of $506.82. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $118.93 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.12 and a beta of 0.78.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter last year, the business posted $5.23 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts forecast that Elevance Health, Inc. will post 37.14 EPS for the current fiscal year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be given a dividend of $1.63 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date is Thursday, March 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. Elevance Health’s dividend payout ratio (DPR) is presently 23.52%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of analyst reports. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $547.00 price target on shares of Elevance Health in a report on Friday, February 2nd. Royal Bank of Canada raised their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Morgan Stanley raised their price target on Elevance Health from $585.00 to $587.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Finally, JPMorgan Chase & Co. cut their price target on Elevance Health from $569.00 to $552.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $564.60.

View Our Latest Analysis on Elevance Health

Institutional Investors Weigh In On Elevance Health

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Elevance Health by 1.5% during the second quarter. Geode Capital Management LLC now owns 4,341,458 shares of the company’s stock valued at $1,923,163,000 after purchasing an additional 63,121 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Elevance Health by 1.4% in the third quarter. Sanders Capital LLC now owns 4,261,976 shares of the company’s stock worth $1,855,750,000 after buying an additional 58,013 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Elevance Health by 13.1% in the second quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock worth $1,428,243,000 after buying an additional 372,937 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Elevance Health by 1.8% in the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock worth $1,396,583,000 after buying an additional 56,204 shares during the period. Finally, Baillie Gifford & Co. increased its holdings in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after buying an additional 27,986 shares during the period. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Elevance Health Company Profile

(Get Free Report)

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.

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