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

Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now 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 can be accessed through this hyperlink.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $537.26 on Friday. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm has a market cap of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.18 and a beta of 0.78. 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 firm has a 50 day simple moving average of $511.89 and a 200 day simple moving average of $486.40.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The company had revenue of $42.27 billion for 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 business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $9.46 earnings per share. Sell-side analysts predict that Elevance Health, Inc. will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ELV shares. UBS Group raised their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Barclays raised their price objective on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 target price (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group boosted their price objective on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Institutional Investors Weigh In On Elevance Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new stake in Elevance Health in the 3rd quarter valued at $25,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the 4th quarter valued at $28,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health in the 4th quarter valued at $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Elevance Health during the 4th quarter worth about $32,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Elevance Health during the 1st quarter worth about $32,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.