Elevance Health, Inc. (NYSE:ELV) Director Ramiro G. Peru Sells 753 Shares

Elevance Health, Inc. (NYSE:ELV) Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Elevance Health Stock Up 0.0 %

NYSE:ELV traded up $0.19 during midday trading on Tuesday, hitting $523.68. 823,979 shares of the company were exchanged, compared to its average volume of 1,062,328. The company has a fifty day simple moving average of $529.56 and a 200 day simple moving average of $518.69. Elevance Health, Inc. has a fifty-two week low of $431.38 and a fifty-two week high of $555.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $121.44 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. During the same period last year, the business earned $9.04 EPS. Elevance Health’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 10th. This represents a $6.52 annualized dividend and a yield of 1.25%. Elevance Health’s dividend payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research report on Tuesday, July 23rd. Baird R W raised shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. raised their price target on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $604.29.

Institutional Investors Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Elevance Health in the fourth quarter valued at $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $467,141,000. Canoe Financial LP boosted its holdings in shares of Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after acquiring an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at about $239,244,000. Finally, Focused Investors Fund L P purchased a new stake in shares of Elevance Health in the first quarter valued at about $249,884,000. 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.