Elevance Health, Inc. $ELV Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in Elevance Health, Inc. (NYSE:ELV) by 66.5% in the third quarter, according to the company in its most recent disclosure 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELV. Field & Main Bank increased its holdings in shares of Elevance Health by 1.3% during the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after acquiring an additional 25 shares in the last quarter. Simplicity Wealth LLC boosted its stake in Elevance Health by 1.3% in the 3rd quarter. Simplicity Wealth LLC now owns 1,939 shares of the company’s stock worth $754,000 after purchasing an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC boosted its stake in Elevance Health by 1.3% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock worth $805,000 after purchasing an additional 26 shares in the last quarter. Mather Group LLC. grew its position in Elevance Health by 3.5% during the 3rd quarter. Mather Group LLC. now owns 766 shares of the company’s stock worth $298,000 after purchasing an additional 26 shares during the last quarter. Finally, 55 North Private Wealth LLC grew its position in Elevance Health by 4.5% during the 3rd quarter. 55 North Private Wealth LLC now owns 598 shares of the company’s stock worth $233,000 after purchasing an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.1%

NYSE:ELV 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. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $450.69. The company’s fifty day moving average price is $410.62 and its 200-day moving average price is $372.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.47 and a quick ratio of 1.47.

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

Elevance Health Dividend Announcement

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

Analyst Ratings Changes

ELV has been the subject of a number of research analyst reports. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Robert W. Baird boosted their price objective on shares of Elevance Health from $393.00 to $406.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Cantor Fitzgerald upped their target price on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their target price on Elevance Health from $473.00 to $492.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Finally, Truist Financial lifted their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average price target of $456.48.

Insider Activity

In other 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 completion of the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at $8,766,949.47. The trade was a 34.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Elevance Health 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.