Elevance Health, Inc. (NYSE:ELV) executive Felicia F. Norwood, who serves as the company's EVP & President of Government Health Benefits, has recently engaged in significant stock transactions, according to the latest SEC filings. The executive sold a total of $10,832,155 worth of common stock at prices ranging from $532.14 to $534.74.
The disclosed transactions, which took place on April 23 and 24, show that Norwood sold 14,011 shares at an average price of $533.73 and another 100 shares at $534.74 on the first day. The following day, additional sales included 2,765 shares at an average price of $532.14 and 3,434 shares at $532.68. These sales represent a notable change in Norwood's holdings in the company.
On the buying side, the executive acquired shares through the exercise of options, with a total transaction value of $1,790,837 at a set price of $238.27 per share. These option exercises occurred on the same dates as the sales, suggesting a strategic move to manage the executive's investment in the company.
Investors and market watchers often scrutinize such transactions by company insiders, as they can provide insights into the executive's view of the company's current valuation and future prospects. The transactions by Norwood at Elevance Health, formerly known as Anthem (NYSE:ELV), Inc., are part of the regular disclosures that executives are required to make when buying or selling shares in their own companies.
For those tracking insider activity, these recent trades by a high-level executive at Elevance Health could be of interest, especially given the substantial amount of stock sold and the corresponding option exercises. The company, which operates in the healthcare plans industry, has seen its stock symbol change from the former Anthem, Inc. to its current ELV ticker on the New York Stock Exchange.
InvestingPro Insights
As Elevance Health, Inc. (NYSE:ELV) experiences significant insider transactions, investors may seek additional data to better understand the company's financial health and market position. The latest metrics from InvestingPro provide a snapshot of ELV's current standing:
- The company boasts a robust market capitalization of $125.36 billion USD, underscoring its significant presence in the healthcare plans industry.
- With a price-to-earnings (P/E) ratio of 20.24 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 17.6, ELV is trading at a premium relative to near-term earnings growth.
- The stock is trading near its 52-week high, at 99.56% of the peak price, reflecting investor confidence and a strong market valuation.
InvestingPro Tips highlight that Elevance Health is a prominent player in the Healthcare Providers & Services industry and has a history of financial reliability, as evidenced by its consistent dividend growth over the past 13 years. Moreover, the company's management has demonstrated a commitment to shareholder value through aggressive share buybacks. These strategic financial decisions may provide some context to the recent insider transactions.
For investors looking to delve deeper into Elevance Health's performance and insider activities, InvestingPro offers additional insights. There are 13 more InvestingPro Tips available, which could further inform investment decisions. To access these tips and more in-depth analysis, visit InvestingPro. And remember, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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