Elevance Health, Inc. (NYSE:ELV) CEO Gail Boudreaux Buys 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 dated Friday, July 18th. The shares were purchased at an average price of $286.94 per share, with a total value of $2,438,990.00. Following the completion of the transaction, the chief executive officer directly owned 151,020 shares in the company, valued at approximately $43,333,678.80. This represents a 5.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Elevance Health Trading Down 8.1%

Shares of NYSE:ELV traded down $24.52 during midday trading on Friday, hitting $277.93. 6,110,128 shares of the stock traded hands, compared to its average volume of 1,669,811. The stock has a market capitalization of $62.79 billion, a PE ratio of 10.86, a P/E/G ratio of 0.88 and a beta of 0.60. The business's 50 day moving average is $374.07 and its two-hundred day moving average is $396.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health, Inc. has a one year low of $276.57 and a one year high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). The firm had revenue of $49.42 billion for the quarter, compared to the consensus estimate of $48.26 billion. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business's revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $10.12 earnings per share. As a group, research analysts forecast that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Hedge Funds Weigh In On Elevance Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Accredited Wealth Management LLC bought a new position in Elevance Health in the fourth quarter worth about $25,000. Private Wealth Management Group LLC raised its stake in Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after buying an additional 38 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter worth about $29,000. WPG Advisers LLC bought a new position in Elevance Health in the first quarter worth about $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Elevance Health in the fourth quarter worth about $30,000. 89.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Guggenheim reduced their price target on shares of Elevance Health from $447.00 to $360.00 and set a "buy" rating for the company in a research report on Friday. Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Wells Fargo & Company cut their target price on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating for the company in a research report on Tuesday. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Truist Financial cut their target price on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $441.81.

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.

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