Elevance Health (NYSE:ELV) Director Sells $60,667.27 in Stock

Elevance Health, Inc. (NYSE:ELV) Director Robert Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Elevance Health Price Performance

NYSE:ELV opened at $403.74 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $366.62 and its two-hundred day moving average price is $344.97. The firm has a market capitalization of $87.68 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.29 and a beta of 0.67. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, analysts anticipate that Elevance Health, Inc. will post 26.93 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 annualized dividend and a yield of 1.7%. Elevance Health’s dividend payout ratio is currently 29.26%.

Hedge Funds Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rossby Financial LCC lifted its holdings in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after acquiring an additional 44 shares during the period. Kemnay Advisory Services Inc. bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Elevance Health during the 4th quarter worth approximately $32,000. WealthCollab LLC increased its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Finally, ORG Partners LLC increased its stake in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ELV shares. Bank of America upped their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Guggenheim increased their target price on Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Evercore reiterated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $363.00 to $498.00 in a research note on Wednesday, May 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.