Ronald W. Penczek Sells 443 Shares of Elevance Health, Inc. (NYSE:ELV) Stock

Elevance Health, Inc. (NYSE:ELV) CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, 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 Price Performance

Shares of Elevance Health stock traded up $13.89 during trading hours on Tuesday, hitting $423.44. The company’s stock had a trading volume of 3,138,310 shares, compared to its average volume of 1,632,365. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50 day moving average price of $391.45 and a two-hundred day moving average price of $432.42. The company has a market cap of $96.27 billion, a PE ratio of 16.53, a PEG ratio of 1.18 and a beta of 0.86.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results 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%. Analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is currently 26.71%.

Wall Street Analyst Weigh In

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

Institutional Trading of Elevance Health

Several hedge funds have recently bought and sold shares of the stock. Accredited Wealth Management LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at about $25,000. Raelipskie Partnership bought a new position in Elevance Health during the third quarter valued at approximately $26,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in Elevance Health in the 4th quarter worth approximately $29,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Elevance Health during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

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.