Elevance Health, Inc. $ELV Position Lessened by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 66.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,290 shares of the company’s stock after selling 8,505 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Elevance Health were worth $1,668,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ELV. Activest Wealth Management lifted its stake in shares of Elevance Health by 146.2% during the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after purchasing an additional 38 shares during the period. Kilter Group LLC purchased a new stake in shares of Elevance Health in the second quarter valued at $28,000. WealthCollab LLC grew its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the period. Elevation Wealth Partners LLC increased its stake in Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Finally, Tacita Capital Inc acquired a new position in Elevance Health in the second quarter valued at $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Raymond James Financial set a $450.00 target price on Elevance Health in a research report on Tuesday, July 7th. Guggenheim raised their target price on shares of Elevance Health from $460.00 to $485.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Truist Financial upped their price target on shares of Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price target on shares of Elevance Health from $424.00 to $455.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 22nd. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $456.48.

Elevance Health Price Performance

Elevance Health stock opened at $419.67 on Monday. The firm has a market capitalization of $90.67 billion, a P/E ratio of 17.90, a PEG ratio of 2.00 and a beta of 0.70. The firm has a fifty day moving average of $410.62 and a 200-day moving average of $372.32. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $450.69. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $4.71 by $2.28. The business had revenue of $50.44 billion during the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.03 earnings per share. As a group, analysts predict that Elevance Health, Inc. will post 29.18 EPS for the current year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $1.72 dividend. The ex-dividend date is Friday, December 4th. This represents a $6.88 dividend on an annualized basis and a yield of 1.6%. Elevance Health’s payout ratio is currently 29.34%.

Insiders Place Their Bets

In related news, CFO Mark Kaye sold 10,584 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares in the company, valued at approximately $8,766,949.47. The trade was a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.