Insider Selling: Elevance Health, Inc. (NYSE:ELV) EVP Sells 7,417 Shares of Stock

Elevance Health, Inc. (NYSE:ELV) EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Elevance Health Trading Down 3.1 %

NYSE:ELV traded down $13.59 on Friday, reaching $430.76. 3,318,672 shares of the company’s stock were exchanged, compared to its average volume of 1,078,559. Elevance Health, Inc. has a 52-week low of $397.98 and a 52-week high of $567.26. The business has a fifty day moving average of $528.77 and a 200-day moving average of $528.05. The firm has a market capitalization of $100.12 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the business posted $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts expect that Elevance Health, Inc. will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.51%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELV. Bank & Trust Co purchased a new stake in shares of Elevance Health during the 2nd quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the second quarter valued at $28,000. Palisade Asset Management LLC purchased a new stake in Elevance Health during the 1st quarter worth about $28,000. Register Financial Advisors LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at about $32,000. Finally, Crewe Advisors LLC purchased a new position in shares of Elevance Health in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ELV shares. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Raymond James set a $485.00 price target on Elevance Health in a report on Friday. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday. UBS Group reduced their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Morgan Stanley started coverage on shares of Elevance Health in a report on Monday, June 24th. They set an “overweight” rating and a $643.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $572.27.

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.