President of Elevance Health Gail Boudreaux Buys 1.9% More Shares
Elevance Health, Inc. (NYSE:ELV) shareholders (or potential shareholders) will be happy to see that the President, Gail Boudreaux, recently bought a whopping US$1.0m worth of stock, at a price of US$368. There's no denying a buy of that magnitude suggests conviction in a brighter future, although we do note that proportionally it only increased their holding by 1.9%.
The Last 12 Months Of Insider Transactions At Elevance Health
Notably, that recent purchase by Gail Boudreaux is the biggest insider purchase of Elevance Health shares that we've seen in the last year. That implies that an insider found the current price of US$378 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Elevance Health share holders is that insiders were buying at near the current price.
In the last twelve months insiders purchased 7.93k shares for US$2.6m. But they sold 3.74k shares for US$1.1m. In the last twelve months there was more buying than selling by Elevance Health insiders. They paid about US$330 on average. It is certainly positive to see that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
View our latest analysis for Elevance Health
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
Does Elevance Health Boast High Insider Ownership?
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 0.1% of Elevance Health shares, worth about US$98m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Elevance Health Tell Us?
The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest Elevance Health insiders are well aligned, and that they may think the share price is too low. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Elevance Health.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.