Insider Selling: Elevance Health, Inc. (NYSE:ELV) Director Sells $376,500.00 in Stock

Elevance Health, Inc. (NYSE:ELVGet Free Report) Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred 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 sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $506.08 on Monday. The company has a market capitalization of $118.93 billion, a PE ratio of 20.11, a PEG ratio of 1.13 and a beta of 0.78. Elevance Health, Inc. has a 12 month low of $412.00 and a 12 month high of $506.82. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $478.95 and its 200 day simple moving average is $464.64.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, topping the consensus estimate of $5.60 by $0.02. The business had revenue of $42.45 billion for the quarter, compared to the consensus estimate of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.23 EPS. On average, research analysts predict that Elevance Health, Inc. will post 37.14 EPS for the current 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 paid a $1.63 dividend. 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 annualized dividend and a dividend yield of 1.29%. Elevance Health’s dividend payout ratio (DPR) is currently 25.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ELV shares. Royal Bank of Canada increased their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. decreased their price objective on Elevance Health from $569.00 to $552.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $547.00 price target on shares of Elevance Health in a research note on Friday, February 2nd. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley increased their price target on Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $564.60.

Read Our Latest Stock Analysis on Elevance Health

Institutional Trading of Elevance Health

Several hedge funds and other institutional investors have recently modified their holdings of ELV. Roundview Capital LLC raised its stake in shares of Elevance Health by 2.9% in the 1st quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock valued at $912,000 after purchasing an additional 52 shares during the period. Moors & Cabot Inc. acquired a new stake in shares of Elevance Health in the 1st quarter valued at about $251,000. Baird Financial Group Inc. raised its stake in shares of Elevance Health by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after purchasing an additional 57 shares during the period. Zions Bancorporation N.A. grew its holdings in shares of Elevance Health by 52.1% in the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after acquiring an additional 306 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Elevance Health by 102.9% in the 1st quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds 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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