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

Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elevance Health Trading Up 1.1 %

NYSE ELV opened at $539.70 on Friday. The firm has a market cap of $125.44 billion, a P/E ratio of 20.40, 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 stock’s 50-day moving average is $511.40 and its 200-day moving average is $485.81. Elevance Health, Inc. has a one year low of $412.00 and a one year high of $542.07.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 earnings per share. Elevance Health’s revenue was up .9% compared to the same quarter last year. Sell-side analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is presently 24.64%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ELV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. UBS Group increased their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Barclays increased their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Truist Financial reissued a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds and other institutional investors have recently bought and sold shares of ELV. Norges Bank acquired a new stake in Elevance Health in the 4th quarter valued at approximately $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new stake in Elevance Health in the 4th quarter valued at approximately $467,141,000. Canoe Financial LP raised its position in Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after buying an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC acquired a new position in shares of Elevance Health during the 4th quarter worth approximately $239,244,000. Finally, Focused Investors Fund L P acquired a new position in shares of Elevance Health during the 1st quarter worth approximately $249,884,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Company Profile

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.