Elevance Health, Inc. (NYSE:ELV) EVP Charles Morgan Kendrick, Jr. Sells 7,417 Shares of Stock

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

Elevance Health Stock Performance

ELV stock opened at $430.76 on Friday. The firm has a market cap of $100.12 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. 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 stock has a 50-day moving average price of $526.74 and a 200-day moving average price of $527.46. Elevance Health, Inc. has a 1-year low of $397.98 and a 1-year high of $567.26.

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

Elevance Health Announces Dividend

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

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of research reports. Stephens reissued an “underperform” rating on shares of Elevance Health in a report on Friday. Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday. Cantor Fitzgerald cut their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday. Barclays boosted their price target on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $572.27.

Institutional Trading of Elevance Health

Hedge funds have recently bought and sold shares of the business. Bank & Trust Co bought a new stake in shares of Elevance Health during the 2nd quarter worth $27,000. Palisade Asset Management LLC bought a new stake in shares of Elevance Health in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Elevance Health during the second quarter worth about $28,000. Strategic Financial Concepts LLC purchased a new stake in shares of Elevance Health during the 2nd quarter valued at approximately $30,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the 1st quarter valued at approximately $32,000. 89.24% of the stock is currently owned by institutional investors.

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.