Insider Selling: Elevance Health, Inc. (NYSE:ELV) CFO Sells 4,588 Shares of Stock

Elevance Health, Inc. (NYSE:ELV - Get Free Report) CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Elevance Health Stock Performance

Shares of ELV stock opened at $421.55 on Friday. The stock has a market cap of $95.43 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The stock has a 50-day moving average of $420.00 and a 200-day moving average of $408.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend




The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. Elevance Health's dividend payout ratio is presently 26.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ELV. Virtu Financial LLC bought a new stake in Elevance Health in the 3rd quarter valued at $2,828,000. Te Ahumairangi Investment Management Ltd grew its holdings in shares of Elevance Health by 39.6% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 10,508 shares of the company's stock worth $5,433,000 after buying an additional 2,983 shares in the last quarter. Tudor Financial Inc. bought a new stake in Elevance Health in the 3rd quarter valued at approximately $235,000. Anchor Investment Management LLC boosted its position in Elevance Health by 22.9% during the 3rd quarter. Anchor Investment Management LLC now owns 6,098 shares of the company's stock worth $3,171,000 after acquiring an additional 1,135 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Elevance Health in the third quarter valued at approximately $8,855,000. Institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ELV shares. Cantor Fitzgerald restated an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Argus upgraded Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 target price for the company in a research note on Monday, March 17th. Guggenheim reissued a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a report on Wednesday. Finally, Truist Financial upped their target price on shares of Elevance Health from $480.00 to $510.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and an average target price of $509.44.

Read Our Latest Report on ELV

About Elevance Health

(Get Free Report)

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.

Further Reading

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