Insider Selling: Elevance Health, Inc. (NYSE:ELV) EVP Sells $7,531,605.14 in Stock

Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $537.26 on Friday. The company has a 50-day simple moving average of $511.89 and a 200-day simple moving average of $486.62. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $124.87 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.19 and a beta of 0.78.

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

Elevance Health Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELV. OFI Invest Asset Management purchased a new position in Elevance Health during the third quarter worth about $25,000. Pin Oak Investment Advisors Inc. acquired a new position in Elevance Health during the fourth quarter worth about $28,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health during the fourth quarter worth about $31,000. Beaird Harris Wealth Management LLC acquired a new position in Elevance Health during the fourth quarter worth about $32,000. Finally, Register Financial Advisors LLC acquired a new position in Elevance Health during the first quarter worth about $32,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Jefferies Financial Group boosted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Barclays boosted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada boosted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus 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.