Elevance Health, Inc. (NYSE:ELV) CEO Gail Boudreaux Purchases 8,500 Shares

Elevance Health, Inc. (NYSE:ELV - Get Free Report) CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction on Friday, July 18th. The shares were purchased at an average cost of $286.94 per share, with a total value of $2,438,990.00. Following the transaction, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Elevance Health Price Performance

ELV traded up $5.19 during trading on Tuesday, hitting $281.64. 3,007,352 shares of the stock traded hands, compared to its average volume of 1,860,926. Elevance Health, Inc. has a twelve month low of $274.40 and a twelve month high of $567.26. The company has a market cap of $63.63 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.81 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day moving average price of $371.52 and a 200 day moving average price of $396.02.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. Elevance Health had a return on equity of 17.59% and a net margin of 2.83%. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.12 earnings per share. Equities research analysts forecast that Elevance Health, Inc. will post 33.96 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 Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $6.84 annualized dividend and a yield of 2.43%. Elevance Health's payout ratio is 29.11%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Leerink Partners reaffirmed a "market perform" rating and issued a $310.00 price objective (down from $510.00) on shares of Elevance Health in a research report on Friday. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Guggenheim decreased their target price on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $432.69.

Hedge Funds Weigh In On Elevance Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Milestone Asset Management LLC raised its position in shares of Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after purchasing an additional 24 shares during the period. GLOBALT Investments LLC GA increased its position in shares of Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock worth $2,743,000 after acquiring an additional 24 shares in the last quarter. Elser Financial Planning Inc increased its position in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after acquiring an additional 26 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after acquiring an additional 27 shares in the last quarter. Finally, Hemington Wealth Management increased its position in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after acquiring an additional 27 shares in the last quarter. 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.