Oppenheimer & Co. Inc. Sells 3,044 Shares of Elevance Health, Inc. $ELV

Oppenheimer & Co. Inc. reduced its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 55.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,478 shares of the company’s stock after selling 3,044 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Elevance Health were worth $801,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Western Wealth Management LLC grew its holdings in Elevance Health by 4.4% during the third quarter. Western Wealth Management LLC now owns 930 shares of the company’s stock valued at $301,000 after purchasing an additional 39 shares during the period. Blume Capital Management Inc. grew its holdings in shares of Elevance Health by 236.7% in the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock valued at $1,986,000 after buying an additional 4,320 shares during the period. Tempus Wealth Planning LLC acquired a new position in shares of Elevance Health in the 3rd quarter valued at $662,000. Lowe Brockenbrough & Co. Inc. increased its position in shares of Elevance Health by 1.5% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 27,197 shares of the company’s stock valued at $8,788,000 after buying an additional 394 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Elevance Health by 23.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,492 shares of the company’s stock worth $797,000 after buying an additional 478 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ELV. Robert W. Baird boosted their target price on Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price objective for the company. in a research report on Tuesday, February 3rd. Morgan Stanley dropped their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Truist Financial reduced their price target on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Price Performance

NYSE ELV opened at $346.49 on Tuesday. The firm’s 50 day moving average is $352.53 and its 200-day moving average is $332.74. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $76.47 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.93 and a beta of 0.50. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. During the same quarter in the prior year, the company posted $3.84 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities research analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be given a $1.72 dividend. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 10th. Elevance Health’s dividend payout ratio (DPR) is presently 27.23%.

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.