Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood Sells 14,111 Shares

Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Elevance Health Price Performance

Shares of ELV stock traded up $5.97 during mid-day trading on Thursday, hitting $539.70. The company had a trading volume of 1,066,967 shares, compared to its average volume of 1,064,400. Elevance Health, Inc. has a 52-week low of $412.00 and a 52-week high of $542.07. The stock’s 50 day moving average price is $510.78 and its 200-day moving average price is $485.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $125.44 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the firm earned $9.46 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

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

Institutional Investors Weigh In On Elevance Health

A number of hedge funds have recently bought and sold shares of ELV. Sanders Capital LLC increased its position in Elevance Health by 4.6% during the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after acquiring an additional 196,010 shares during the last quarter. Capital International Investors grew its holdings in Elevance Health by 7.9% during the 4th quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after acquiring an additional 248,150 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Elevance Health by 0.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after acquiring an additional 27,986 shares in the last quarter. Norges Bank purchased a new position in shares of Elevance Health in the 4th quarter valued at approximately $1,347,434,000. Finally, Morgan Stanley raised its position in shares of Elevance Health by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after purchasing an additional 46,322 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Mizuho raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Finally, Barclays raised their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

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.