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

Elevance Health, Inc. (NYSE:ELV) EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now 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 is accessible through this link.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $539.70 on Friday. The company has a market cap of $125.44 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a 52 week low of $412.00 and a 52 week high of $542.07. The business has a 50 day moving average price of $511.40 and a 200-day moving average price of $485.81. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $42.49 billion. During the same period last year, the business posted $9.46 earnings per share. Elevance Health’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ELV shares. Royal Bank of Canada increased their price target on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds have recently made changes to their positions in ELV. Norges Bank bought a new stake in shares of Elevance Health during the 4th quarter worth $1,347,434,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Elevance Health during the 4th quarter worth $467,141,000. Canoe Financial LP raised its stake in shares of Elevance Health by 158.1% during the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after purchasing an additional 517,116 shares during the period. Morningstar Investment Services LLC bought a new stake in shares of Elevance Health during the 4th quarter worth $239,244,000. Finally, Focused Investors Fund L P bought a new stake in shares of Elevance Health during the 1st quarter worth $249,884,000. 89.24% of the stock is currently 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.