Insider Selling: Elevance Health, Inc. (NYSE:ELV) CAO Sells 443 Shares of Stock

Elevance Health, Inc. (NYSE:ELV) CAO Ronald W. Penczek sold 443 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $423.44 on Wednesday. The stock has a fifty day moving average price of $392.54 and a two-hundred day moving average price of $431.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. The firm has a market cap of $96.27 billion, a P/E ratio of 16.53, a PEG ratio of 1.18 and a beta of 0.86. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Research analysts forecast that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.62%. Elevance Health’s dividend payout ratio (DPR) is currently 26.71%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Truist Financial dropped their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Argus reiterated a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research report on Wednesday, January 29th. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 1st. Finally, Barclays raised their target price on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $517.03.

Institutional Investors Weigh In On Elevance Health

Large investors have recently modified their holdings of the stock. Mutual Advisors LLC boosted its stake in shares of Elevance Health by 2.5% during the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after acquiring an additional 52 shares in the last quarter. Czech National Bank boosted its position in shares of Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after buying an additional 3,049 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Elevance Health by 1,711.9% in the third quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after buying an additional 50,603 shares during the period. Diversified Trust Co boosted its position in shares of Elevance Health by 13.7% in the fourth quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after buying an additional 2,725 shares during the period. Finally, JB Capital LLC boosted its position in shares of Elevance Health by 597.2% in the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after buying an additional 8,038 shares during the period. 89.24% of the stock is owned by institutional investors.

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.