Elevance Health, Inc. (NYSE:ELV) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its stake in Elevance Health, Inc. (NYSE:ELV) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,001 shares of the company’s stock after purchasing an additional 285 shares during the period. Oppenheimer & Co. Inc.’s holdings in Elevance Health were worth $3,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Sanders Capital LLC increased its holdings in shares of Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after purchasing an additional 196,010 shares during the period. Capital International Investors boosted its stake in shares of Elevance Health by 7.9% in the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock valued at $1,591,237,000 after buying an additional 248,150 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after buying an additional 27,986 shares in the last quarter. Norges Bank purchased a new stake in shares of Elevance Health in the fourth quarter valued at approximately $1,347,434,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Elevance Health by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock valued at $878,800,000 after buying an additional 110,462 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.3 %

Shares of NYSE ELV traded up $1.72 on Friday, hitting $535.54. The company had a trading volume of 960,036 shares, compared to its average volume of 730,922. Elevance Health, Inc. has a 12-month low of $414.79 and a 12-month high of $550.34. The business has a 50 day moving average of $534.48 and a two-hundred day moving average of $512.91. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $124.47 billion, a P/E ratio of 20.26, a PEG ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the business earned $9.46 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Analysts Set New Price Targets

A number of analysts have commented on ELV shares. Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Mizuho boosted their target price on Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays boosted their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research report on Wednesday. Finally, Baird R W upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $611.36.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

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.